Investing.com -- U.S. stocks were losing ground as investors continued to weigh the odds of another interest rate increase by the Federal Reserve.
The Fed is due to meet next week to decide the next step as economic data show the economy is cooling but the job market remains tight. Futures traders have a 75% probability that the Fed will pause on another hike next week, while slightly more than half of traders see a quarter of a point hike coming after that in July.
The next reading of the consumer price index , this time for May, is due out on Tuesday, just as the Fed starts its two-day meeting.
Fed policymakers are currently in a quiet period ahead of the meeting but last week several of them hit the speech circuit to make the case for a pause.
The prospect of a halt to interest rate increases has lifted stocks in recent weeks, especially tech stocks, pushing the Nasdaq higher.
Coinbase Global, Inc. (NASDAQ: COIN ) shares fell 15.8% after the Securities and Exchange Commission sued the crypto exchange for operating an unregistered broker and exchange. Just on Monday, the SEC sued Binance and its founder for securities violations.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.