US stocks were higher on Wednesday morning as investors looked to a coming speech by Federal Reserve Chair Jerome Powell for clues to whether interest rates will stay higher for longer. The S&P 500 rose about 0.4%, while the Dow Jones Industrial Average popped about 0.2%. The tech-heavy Nasdaq Composite led the gains, rising 0.6% after the major gauges closed Tuesday in a sea of red.
This data stood in contrast to a similar reading from the manufacturing sector on Monday, which showed inflation pressures were on the rise last month. The focus is now on Powell, whose speech on the economic outlook later in the day will be weighed for hints to whether the Fed's June meeting will bring a policy pivot. Earlier in the day, Atlanta Fed President Raphael Bostic told CNBC he expects the Fed to make its first interest rate cut in the fourth quarter.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks rise as investors eye the Fed, Super Micro slumps on stock offering: Yahoo Finance LiveAll three of the major indexes (^DJI,^GSPC, ^IXIC) are moving higher as investors await the Federal Reserve’s latest interest rate decision, which will come ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Stocks slip to start final week of eventful first quarterA furious rally on Wall Street to start 2024 took a breather at the beginning of the final week of the year's first quarter.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: US stocks mixed as Nasdaq flips into positive territoryThe prospect of a reversal from interest-rate hikes continues to buoy investors' spirits.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: US stocks open flat but still eye weekly winsThe prospect of a reversal from interest-rate hikes continues to buoy investors' spirits.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Stocks jump to new highs as Fed buzz lifts marketsRelieved investors continued to celebrate the Federal Reserve's signal that it will delay but not slow rate cuts.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Stocks climb to new records after Fed sticks to the plan on ratesStocks rose after the Fed's latest projection for interest rates showed the central bank sees three interest rate cuts by the end of this year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »