Stock market today: Wall Street wavers following congressional testimony from Powell

The S&P 500 and the Nasdaq composite each rose 0.1% Tuesday, adding to their recent records. The Dow Jones Industrial Average fell 52 points, or 0.1%. Helen of Troy, which makes Osprey and OXO products, sank nearly 28% after posting results that fell far short of forecasts. Treasury yields rose slightly in the bond market. The yield on the 10-year Treasury edged up to 4.29%.

Chipmaker Intel rose another 1.9% following Monday’s 6.2% gain as bullish analysts suggest the company’s next processors will be in high demand for AI-related products. “The market is really seeing no surprises today and so that’s allowing it to modestly drift higher,” said Lisa Erickson, head of public markets at U.S. Bank Wealth Management.

Most measures of inflation show that it is easing, though at a much slower pace throughout 2024. The rate is hovering around 3% and continues exerting pressure on consumers, especially those with lower incomes. Wall Street is hoping for rate cuts this year that could alleviate some pressure on both consumers and investors. Most experts are expecting one rate cut from the Fed this year, but not until September. The Fed holds its next policy meeting later this month.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Wall Street opens mixed ahead of congressional testimony from PowellNEW YORK (AP) — Stocks are opening mixed on Wall Street ahead of Federal Reserve Chair Jerome Powell’s testimony before the Senate Banking Committee. The S&P 500 was up 0.2% in the first few minutes of trading Tuesday.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street edges higher ahead of bank earnings and Powell testimony this weekNEW YORK (AP) — Stocks are a bit higher in early trading on Wall Street, adding to the record highs they set last week. The S&P 500 was up 0.2% in the first few minutes of trading Monday. The Nasdaq edged up 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street opens higher after inflation continues to easeNEW YORK (AP) — Stocks are edging higher in early trading on Wall Street and are heading for their fourth weekly gain in a row.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street inches higher ahead of inflation reportStocks inched higher on Wall Street as markets wait for a key report on inflation. The S&P 500 edged up 0.1% Thursday. The Nasdaq composite added 0.3%, and the Dow Jones Industrial Average rose 0.1%.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street barely budges ahead of inflation reportNEW YORK (AP) — Stocks are barely budging in early trading on Wall Street as markets wait for a key report on inflation. The S&P 500 was up about 0.1% in the early going Wednesday. The Nasdaq composite was up 0.
Source: SooToday - 🏆 8. / 85 Read more »