RESOLVING THE LEDGER
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It's been another stellar year for the timeless Dow Jones Industrial Average (DJINDICES: ^DJI) , broad-based S&P 500 (SNPINDEX: ^GSPC) , and growth-driven Nasdaq Composite (NASDAQINDEX: ^IXIC) , which have hit all-time highs since early June. But the party may be nearing a conclusion , based on the latest interest rate projections.
According to the CME Group 's FedWatch Tool, which uses 30-day Fed funds futures prices to track the probability of Federal Reserve rate hikes at upcoming Federal Open Market Committee (FOMC) meetings, there's now an 82.4% chance of an FOMC rate hike by the Sept. 16 meeting. That's up from a 52.4% probability of higher interest rates by mid-September, as of July 16.
This sudden surge in Fed rate-hike probability boils down to three factors .
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