First Fed rate hike in three years. The 10-year yield closed near 5%. Tech shrugged and kept scrolling.
The Dow fell 1.2%, the Nasdaq was nearly flat, and tech was the only S&P 500 sector to gain. Optical networking stole the show: $LITE +9.6%, $COHR +6.9%.
Jobless claims and housing data land at 8:30 a.m. ET. Will they tell the Fed to take five—or cue another hike?
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Oil and yields climbed arm in arm. After a 5.9% face-plant, the SOX crawled back just 0.4%.
Technically standing. Barely.
Markets put the odds of a 25bp hike at 94.5%. The real cliffhanger is the dot plot: does this rate-hike series get another episode?
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