SanDisk Jumps 10%, Lululemon Crashes 17%: Stock Market Today
A blowout August jobs report pushed traders to price a coin-flip chance of a Federal Reserve rate hike this month, dragging the S&P 500 and Dow lower by midday Friday.
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Gold is up nearly 8% this week, a move matched only seven times since 1986. History says the next three months are the hard part.
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A blowout August jobs report pushed traders to price a coin-flip chance of a Federal Reserve rate hike this month, dragging the S&P 500 and Dow lower by midday Friday.
Gold miners fall 1.9% and Bitcoin proxies sell off after August payrolls beat by 106,000, pushing September Fed hike odds to 60.2% from 49.4%.
Stocks rallied and Treasury yields retreated from three-year highs after Fed Governor Waller signaled he could back a rate hold, sending bitcoin above $80,000.
VOO led ETF inflows with $3.3B. Investors also poured money into Treasury and gold ETFs; total ETF flows reached $5.3B on Thursday.
Dan Loeb's Third Point sold its entire gold stake after one quarter, just before bullion rallied in August.
QQQ attracted $860.25 million and VOO $693.23 million in ETF inflows Thursday, while GLD added $627.68 million as total ETF flows reached $2.83 billion.