US Stocks Open Mixed After Fed Hike as Tech Leads Gains
What Happened
US markets opened cautiously on September 18 as investors continued to digest the Federal Reserve's first rate hike in three years. At the open: Nasdaq Composite: +0.4% S&P 500: +0.1% Dow Jones:-0.2% to-0.3% Technology and semiconductor stocks rebounded, helping the Nasdaq outperform, while higher Treasury yields and concerns that the Fed may raise rates again weighed on broader market sentiment. Oil prices remained near $100 per barrel, keeping inflation concerns in focus.
Key Takeaways
Investors are looking past this week's 25-basis-point Fed rate hike and focusing on the possibility of further tightening. Tech stocks remain resilient, but elevated bond yields, sticky inflation and energy prices are limiting gains across the wider market.