[unable to retrieve full-text content]New inflation reading reinforces Fed’s higher-for-longer stance Yahoo Finance Source link
Read More »New inflation reading reinforces Fed's higher-for-longer stance – Yahoo Finance
Stocks rebound as Powell reinforces Fed caution
US stocks popped on Wednesday, with techs vaulting back from a steep sell-off as investors digested Federal Reserve Chair Jerome Powell’s stance that interest rate cuts are still likely this year. The tech-heavy Nasdaq Composite (^IXIC) jumped about 0.8% after techs led a sharp slide in stocks more broadly on Tuesday. The S&P 500 (^GSPC) also added 0.8%, while the Dow Jones Industrial Average (^DJI) popped 0.6%, as both indexes came off losses of more than 1%. Powell’s testimony to Congress… Source link
Read More »Techs lead stocks higher as Powell reinforces Fed caution
US stocks opened higher on Wednesday, with techs vaulting back from a steep sell-off as investors digested Federal Reserve Chair Jerome Powell’s stance that interest rate cuts are still likely this year. The tech-heavy Nasdaq Composite (^IXIC) jumped about 1% after techs led a sharp slide in stocks more broadly on Tuesday. The S&P 500 (^GSPC) added more than 0.6%, while the Dow Jones Industrial Average (^DJI) popped 0.5%, as both indexes came off losses of more than 1%. Powell’s testimony to… Source link
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