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Ultimately, stocks were not able to stray too far from the previous close, but they did end lower. A couple events are likely contributors, First Republic being seized and sold being one of them. Investors are probably pricing in the likely interest rate increase tomorrow and the debt ceiling situation in the U.S. |
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Market snapshot as of yesterday’s close: |
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Insight: As for the interest rate meeting, expectations are for a quarter of a point raise, which would make the 10th hike in as many meetings. As always one for the road: Gyrodyne, LLC (GYRO). It owns, leases and manages commercial properties, with a focus on medical offices. Its stock is up close to 18% YTD, and we have a stock analysis for it on our page if you’re interested. You know the drill, investing always comes with some level of risk, so make sure to do your research and consult with a financial advisor before making any big decisions. Remember, stay smart, stay informed, and stay invested! |
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