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On the SPOT™ blog (08/17/2023) [T..]

This morning (PST), all three major US indices are in the red (DJIA and S&P500 in slight red and Nasdaq composite in light red). Markets are perhaps reminded (by FOMC meeting minutes from yesterday) that economic conditions might warrant more rate hikes and restrictive fiscal policies could stay longer. Conference board's data suggested possibility of mild contraction of economy in coming months (albeit the reading showed less drop compared to drop in previous month). Last week's jobless claims fell and were slightly below the estimated number. Chinese central bank and Chinese Premier commented that they the government will take necessary action to stimulate the economy.

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