The Gaslighting of Hannah Pettey
When a young woman nearly dies from poisoning, investigators focus on the two people she trusted the most. "48 Hours" correspondent Anne-Ma…
Bearish
-55.0
What's Happening
Markets have fully priced in a Federal Reserve rate increase for the first time in three years, with investors now debating the trajectory beyond the initial hike. Oracle's strong quarterly cloud infrastructure revenue beat lifted Dell and HPE, the S&P 500's top performers today, signaling renewed appetite for enterprise hardware and infrastructure plays.
Market Impact
Dell and HPE surged on Oracle's upbeat guidance, but the Fed's rate path remains the dominant driver for equities. Higher rates could pressure valuations across tech and growth sectors, though infrastructure and cloud capex cycles may cushion hardware makers. Investors are now parsing Fed Chair Kevin Warsh's reluctance to signal future rate moves, creating volatility around forward guidance.
Broader Implications
A rate hike after three years of cuts signals the Fed's confidence in inflation control but risks derailing equity momentum if the hiking cycle extends beyond one move. Enterprise spending on cloud and infrastructure remains resilient, suggesting corporate capex may offset consumer weakness.
