Major indexes are lower following better-than-expected US jobs data, which could raise concerns over further rate hikes. Additionally, Dallas Fed president Logan said more rate hikes are likely necessary.
Portfolio Pulse from Benzinga Newsdesk
Major indexes are down following better-than-expected US jobs data, which could raise concerns over further rate hikes. Dallas Fed president Logan also indicated that more rate hikes are likely necessary.

July 06, 2023 | 2:39 pm
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NEGATIVE IMPACT
The Dow Jones Industrial Average ETF (DIA) may be negatively impacted by the prospect of further rate hikes.
The prospect of further rate hikes could lead to increased borrowing costs for companies, potentially impacting their profitability and thus their stock prices. This could put downward pressure on the DIA ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
The iShares Russell 2000 ETF (IWM) may be negatively impacted by the prospect of further rate hikes.
The prospect of further rate hikes could lead to increased borrowing costs for companies, potentially impacting their profitability and thus their stock prices. This could put downward pressure on the IWM ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
The Invesco QQQ ETF (QQQ) may be negatively impacted by the prospect of further rate hikes.
The prospect of further rate hikes could lead to increased borrowing costs for companies, potentially impacting their profitability and thus their stock prices. This could put downward pressure on the QQQ ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75
NEGATIVE IMPACT
The SPDR S&P 500 ETF (SPY) may be negatively impacted by the prospect of further rate hikes.
The prospect of further rate hikes could lead to increased borrowing costs for companies, potentially impacting their profitability and thus their stock prices. This could put downward pressure on the SPY ETF.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 75