ILMN - Wall Street Breakfast: What Moved Markets

Listen on the go! A daily podcast of Wall Street Breakfast will be available on Seeking Alpha, iTunes, Stitcher and Spotify. The stock market finished the first week of May with modest losses that masked a turbulent performance that saw the Dow Jones Average post both its best and worst days since 2020. The three major indexes started the week with three straight positive sessions, then plunged in a sharp selloff after investors decided the Federal Reserve's implied policy tightening cycle ahead was still very hawkish, even as Chairman Jerome Powell took 75-basis point rate hikes off the table. Investors remain nervous about the Fed's ability to tighten financial conditions to combat inflation at 40-year highs without knocking the economy into a recession. The Dow Jones Average lost only 0.2% for the week but it was still the sixth straight declining week for the index, while the S&P 500 also

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Wall Street Breakfast: What Moved Markets