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The Federal Reserve’s decision to raise the interest rate by 0.5% in last week’s Federal Open Market Committee (FOMC) meeting was met with enthusiasm in the stock market, triggering a more than 10-point rise on SPDR S&P 500 ETF (NASDAQ: SPY). Unfortunately, this enthusiasm was short-lived. The SPY tumbled back to previous levels the following day, erasing the upward move and plunging further downward.
Cboe Global Markets Inc. (BATS: CBOE) reports a decline in a number of U.S. funds tracking major indices, including the Nasdaq 100 Index, the Russell 2000 Index and the S&P 500 Index. Similar weakness is observed in European stock markets, specifically in Germany’s DAX 30, France’s CAC 40 and Europe’s MSCI European.
Lisa Su’s Advanced Micro Devices Inc. (NASDAQ: AMD) wins chart of the week following a strong reaction to a recently released earnings report.
Finally, Cboe notes important upcoming earnings that may lift investors’ eyebrows in the following week.
Quick Bites
Exchange-Traded Funds
The SPDR S&P 500 ETF declined 0.16% last week, representing the fifth consecutive week of price depreciation.
The Invesco QQQ Trust Series 1 (NASDAQ: QQQ) declined 1.28% last week, breaking below $320 for the first time since February last year.
The iShares Russell 2000 ETF (NASDAQ: IWM) …
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