The major averages are on track to book losses for August, sharply trimming their gains from the summer rally.
" on Tuesday."No doubt the Fed's gonna raise rates in September, and likely two more times this year, but they will have at that point done a lot and we will be in restrictive territory."
Ahead of Friday's closely watched August jobs data, more Fed speeches are slated for Wednesday. Chicago PMI and ADP employment data are also due out in the morning.Charles Schwab's Randy Frederick believes the low made in June should hold despite the continuation of last week's sell-off.Given the size of that bounce, the managing director of trading and derivatives said he'd be surprised if markets took out that low — although"anything can happen.
"That's a pretty impressive rally," Frederick said."It would be very rare to give all of that back because it just doesn't happen very often."Shares of Chewy tumbled more than 9% in extended trading after the company shared a weak forecast for the third quarter and full year as customers trim discretionary spending.
The online pet products retailer posted a slight revenue miss but a surprise profit of 5 cents a share, compared to expectations of an 11-cent loss.As of Tuesday's close, all the major averages were on pace to close out the month with losses. Both the Dow Jones Industrial Average and the S&P 500 are on track for their second negative month in three, while the Nasdaq Composite is on course for its fourth negative month in five.14% off its 52-week highDown 4.1% this month, 24.05% this yearStock futures opened flat in overnight trading Tuesday after the sell-off on Wall Street continued into its third day. Futures tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 inched 0.03%, 0.07% and 0.03% lower, respectively.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Update: ONEUS Unveils Contrasting Sets Of Individual “MALUS” Comeback TeasersUpdated August 30 KST: ONEUS has shared two new sets of individual concept photos for their upcoming “MALUS” comeback! Updated August 29 KST: ONEUS has unveiled a group concept photo for their upcoming comeback with “MALUS”! Updated August 28 KST: ONEUS has released individual concept photos for their upcoming comeback with “MALUS”! Updated August 27
Read more »
Bitcoin (BTC) Price Analysis for August 29Can bulls keep the price above the $20,000 mark? NickSzabo4 alistairmilne Maybemore_DC WhalePanda maxkeiser Rager
Read more »