{"id":43642,"date":"2025-09-26T02:33:11","date_gmt":"2025-09-26T02:33:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/43642\/"},"modified":"2025-09-26T02:33:11","modified_gmt":"2025-09-26T02:33:11","slug":"wall-st-indexes-hit-one-week-lows-as-economic-data-clouds-rate-cut-outlook-tradingview-news","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/43642\/","title":{"rendered":"Wall St indexes hit one-week lows as economic data clouds rate-cut outlook \u2014 TradingView News"},"content":{"rendered":"

By Niket Nishant and Sukriti Gupta<\/p>\n

Wall Street’s main indexes slumped to their lowest in a week on Thursday, as fresh economic data tempered optimism around further interest rate cuts, indicating a sharp shift in sentiment across a market betting on aggressive easing.<\/p>\n

A split among Federal Reserve policymakers, with some pushing for aggressive cuts to safeguard the labor market and others advocating caution, also injected a dose of uncertainty.<\/p>\n

The pullback underscores the market’s sensitivity to even modest shifts in economic indicators, particularly after a September rally that defied the month’s typical seasonal weakness.<\/p>\n

Initial claims for state unemployment benefits dropped 14,000 to a seasonally adjusted 218,000 for the week ended September 20, data from the Labor Department showed. Economists polled by Reuters forecast 235,000 claims for the latest week.<\/p>\n

“There may be cracks in the labor market, but if today’s data is any indication, they haven’t widened recently,” said Chris Larkin, managing director, trading and investing, at brokerage firm E*Trade.<\/p>\n

Investors scaled back expectations of a 25-basis-point rate cut in the Fed’s October meeting to 83.4%, from about 92% on Wednesday, according to the CME FedWatch Tool.<\/p>\n

The central bank had lowered rates by 25 bps last week in its first cut since December, and had signaled more reductions ahead.<\/p>\n

But Chicago Fed President Austan Goolsbee said on Thursday he was uneasy with cutting rates too quickly, flagging risks about inflation flaring up.<\/p>\n

At 11:37 a.m. ET, the Dow Jones Industrial Average \"\"\/DJI<\/a> fell 54.57 points, or 0.12%, to 46,066.71. The S&P 500 \"\"\/SPX<\/a> lost 26.31 points, or 0.40%, to 6,611.66, while the Nasdaq Composite \"\"\/IXIC<\/a> was down 85.53 points, or 0.38%, at 22,414.29. <\/p>\n

\"S&PThomson ReutersS&P 500 forward price-to-earnings ratio<\/p>\n

IBM shares \"\"\/IBM<\/a> rose 5.6% after the company unveiled a partnership with HSBC \"\"\/HSBA<\/a>, capping losses on the Dow.<\/p>\n

The S&P 500 technology \"\"\/S5INFT<\/a> stocks were flat, while the broader semiconductor \"\"\/SOX<\/a> index dipped 0.3%.<\/p>\n

CarMax \"\"\/KMX<\/a> slid to its lowest in more than five years, becoming the biggest loser on the S&P 500, after the used-car retailer reported lower second-quarter profit. Its shares were last down 20%.<\/p>\n

Intel \"\"\/INTC<\/a> rose 6.7%, a day after Bloomberg News reported that the chipmaker has approached Apple \"\"\/AAPL<\/a> about securing an investment.<\/p>\n

Brokerage firm Seaport Research Partners upgraded Intel’s stock to “neutral” from “sell”.<\/p>\n

Investors are now focused on Friday’s release of the Personal Consumption Expenditures index, the Fed’s preferred inflation measure, which could shape expectations for the path of interest rates.<\/p>\n

“I think it’s going to fall within the range of normalcy. I think we see rates come down another 100 or so basis points over the next 18 months and we get to a very sweet spot in the economy,” said Frank Sorrentino, CEO of ConnectOne Bank \"\"\/CNOB<\/a>.<\/p>\n

A potential government shutdown in Washington, where budget negotiations have so far failed to yield an agreement, has also aggravated the worries.<\/p>\n

Declining issues outnumbered advancers by a 2.9-to-1 ratio on the NYSE and by a 2.8-to-1 ratio on the Nasdaq.<\/p>\n

The S&P 500 posted 11 new 52-week highs and 15 new lows, while the Nasdaq Composite recorded 41 new highs and 69 new lows.<\/p>\n","protected":false},"excerpt":{"rendered":"By Niket Nishant and Sukriti Gupta Wall Street’s main indexes slumped to their lowest in a week on…\n","protected":false},"author":2,"featured_media":3612,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,111,139,69],"class_list":["post-43642","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/43642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=43642"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/43642\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/3612"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=43642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=43642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=43642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}