NEW YORK — U.S. stocks are climbing closer to their records Friday after the head of the Federal Reserve finally said out loud what Wall Street has been expecting for a while: Cuts to interest rates are coming soon to help the economy.
While careful to say the task is not complete, Powell used the past tense to describe many of the conditions that sent inflation soaring after the pandemic, including a job market that “is no longer overheated.” That means the Fed can pay more attention to the other of its twin jobs: to protect the job market and to keep humming an economy that has so far defied many predictions for a recession.
Treasury yields had already pulled back sharply in the bond market since April on expectations the Federal Reserve’s next move would be to cut its main interest rate for the first time since 2020. The only questions were by how much the Fed would cut and how quickly it would move. In the meantime, stronger-than-expected profit reports from a range of companies are helping to support the market.
They helped offset a 9.8% tumble for Red Robin Gourmet Burgers, which reported a worse loss for the latest quarter than expected. It also lowered the top end of its forecasted range for revenue this year amid what it called a slowdown across the restaurant industry.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Stock market today: Wall Street climbs ahead of speech by Fed chief PowellNEW YORK (AP) — Stocks are climbing on Wall Street, but the market’s focus is thousands of miles to the west, where the head of the Federal Reserve is about to give a highly anticipated speech about interest rates. The S&P 500 was 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »
Stock market today: Wall Street weakens ahead of a highly anticipated speechNEW YORK (AP) — U.S. stocks closed lower as Wall Street counted down to its main event for the week, a speech by Federal Reserve Chair Jerome Powell coming up on Friday. The S&P 500 lost 0.9% Thursday, its worst day in more than two weeks.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »
Stock market today: Wall Street ticks closer to record heights ahead of a highly anticipated speechNEW YORK (AP) — U.S. stocks are ticking higher Thursday as Wall Street counts down to what’s supposed to be the main event of the week, a speech by Federal Reserve Chair Jerome Powell coming on Friday. The S&P 500 was 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »
Stock market today: Wall Street rises after Target and other retailers top profit forecastsNEW YORK (AP) — U.S. stocks are opening higher after more big companies delivered profit reports that topped analysts’ expectations. The S&P 500 rose 0.2% in early Wednesday trading. The Dow Jones Industrial Average added 110 points, or 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »
Stock market today: Wall Street holds near records after an 8-day winning streakNEW YORK (AP) — U.S. stocks are holding near their record levels following an eight-day winning streak. The S&P 500 was down less than 0.1%. The Dow Jones Industrial Average fell 0.1%, and the Nasdaq composite slipped 0.1%.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »
Stock market today: Wall Street closes its best week of the year with some more gainsNEW YORK (AP) — U.S. stocks drifted higher as Wall Street coasted to the close of its best week since November. The S&P 500 rose 0.2% Friday, extending its winning streak to a seventh day. The Dow Jones Industrial Average rose 0.
Herkunft: SooToday - 🏆 8. / 85 Weiterlesen »