Jerome Powell, chairman of the US Federal Reserve, during an interview for an episode of"The David Rubenstein Show: Peer-to-Peer Conversations" at the Economic Club of Washington in Washington, DC on Tuesday, February 7th. Powell said that additional interest-rate increases will be needed to cool inflation amid a labour market that recent data shows remains very tight.
Ultimately, the day ended with strong gains. That’s been a feature of recent activity, says Bespoke Investment, which notes the S&P 500 had enjoyed intraday gains – that is, it gained from the open to the close – on 12 of the previous 13 days. That’s rare – there have only been seven such instances over the last 30 years – and it’s reasonable to assume stocks won’t keep advancing every day.