US stocks were higher on Wednesday as investors digested Federal Reserve chair Jerome Powell reiterating the Fed will likely cut interest rates this year amid inflation's "bumpy" path downward. The S&P 500 rose about 0.3%, while the Dow Jones Industrial Average popped about 0.1%. The tech-heavy Nasdaq Composite led the gains, rising more than 0.4% after the major gauges closed Tuesday in a sea of red.
Stocks reversed losses on Wednesday morning, though, after a reading on prices paid in the services sector hit its lowest level since March 2020, indicating potential future declines in inflation. 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. 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.
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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 ...
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Markets today: Stocks churn before Fed with Powell as 'wild card'Wall Street traders refrained from making any big bets ahead of the U.S. Federal Reserve decision as they braced for whether Jerome Powell will throw cold water on rate-cut hopes.
แหล่ง: BNNBloomberg - 🏆 83. / 50 อ่านเพิ่มเติม »
Markets today: Tech lifts stocks with jobs and Powell in focusWall Street traders breathed a sigh of relief, with Jerome Powell once again signaling he expects the Federal Reserve to cut rates this year — even as a strong economy keeps officials on hold for now.
แหล่ง: BNNBloomberg - 🏆 83. / 50 อ่านเพิ่มเติม »
Stock market today: S&P 500 poised for new record with Powell back in spotlightInvestors are looking for further clues on the path of interest rates in Jerome Powell's second day of testimony.
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Markets today: U.S. stocks rebound after data with eyes on PowellThe stock market rebounded as the latest set of economic data did little to alter bets the Federal Reserve will deliver rate cuts this year, following recent concern that the central bank would delay policy easing.
แหล่ง: BNNBloomberg - 🏆 83. / 50 อ่านเพิ่มเติม »
Stock market today: Hong Kong stocks lead Asia market gains while developer Vanke slumpsHONG KONG (AP) — Hong Kong stocks led gains in Asian markets Tuesday, though China real estate developer Vanke slumped more than 10%, while investors...
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