Investing.com -- U.S. stocks were edging higher, trying to maintain a multi-day rally going ahead of comments from Federal Reserve Chair Jerome Powell, which could provide guidance on future monetary policy.
Wall Street’s benchmark indices traded narrow ranges on Wednesday, with the broad-based S&P finishing up just 0.1%. However, this marked its eighth consecutive up day, its longest winning streak since 2021. The tech-heavy Nasdaq also gained 0.1%, a ninth winning day, while the 30-stock Dow slipped by 0.1%, breaking a run of seven positive days.
However, some Fed officials have warned against complacency in recent days, saying there is more work to be done to get inflation back to the central bank's 2% target rate. Powell spoke at a separate event in the U.S. capital on Wednesday, but did not comment on monetary policy. This is unlikely to be the case today, and investors will be looking for a steer on future interest rate levels.) beat profit expectations but missed on revenue, and its full year 2024 outlook was about inline with estimates. Shares rose 5.8%.
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