6/17, 3:30 PM (Source: TeleTrader)
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Wall Street opens flat to lower on Fed rate outlook

Trading on Wall Street kicked off mostly in negative territory on Thursday as traders digested the latest update from the Federal Reserve. Fed officials expect to start raising interest rates in 2023, earlier than previously forecast as the economic recovery from the pandemic picks up speed.

Meanwhile, the most recent jobless claim data revealed new filings rose to their highest in a month. On the earnings calendar, traders were expecting second quarter results from Adobe after the closing bell.

The Dow Jones opened flat. The S&P 500 declined 0.07% at the start of the session as Newmont Corp. led the losses. The Nasdaq 100 fell 0.26% but quickly turned to gains as chip stocks pushed higher.

Breaking the News / JC