U.S. stocks opened marginally higher on Wednesday as investors looked ahead to a speech by Federal Reserve Chairman Jerome Powell. The Dow Jones Industrial Average DJIA, -0.
19% advanced 24 points, or 0.1%, to 33,877. The S&P 500 SPX, -0.09% gained 5 points, or 0.1%, to 3,962. The Nasdaq Composite COMP, +0.25% gained 17 points, or 0.2%, to 11,001.
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Fed 'pivot' to lower interest rates will be bullish for stocks. But timing is everything.Of 13 major Fed pivots over the past seven decades, in only five of them did the stock market bottom in advance. Here’s one big reason why the bottom doesn’t always happen before the Fed begins to reduce interest rates. Do you really think Powell’s going to go there? I don’t, I expect him to be hawkish.
Source: MarketWatch - 🏆 3. / 97 Read more »
Stocks are little changed as investors await Powell speechInvestors are waiting to see what Federal Reserve Chair Jerome Powell will say about future monetary policy in a Wednesday speech. What difference did that make. Markets were already inflated on the back of what was expected. So why the sudden panic and waiting game. Load of crap!
Source: CNBC - 🏆 12. / 72 Read more »