News Formal

Stock market today: US futures hold near records as Powell buoys rate-cut hopes

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 25 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 63%

Jerome Powell News

Nasdaq Composite,Federal Reserve,Rate Reductions

Jerome Powell steps up for part 2 of his policy update to Congress, with investors on the alert for more clues to rate cut prospects.

US stocks held near all-time highs on Wednesday as Jerome Powell's remarks to the Senate buoyed rate-cut hopes, with the Federal Reserve chair set to return to Congress for another day of testimony. S&P 500 futures rose roughly 0.2%, coming off a 36th record close for the benchmark. Dow Jones Industrial Average futures wobbled along the flatline, while contracts on the tech-heavy Nasdaq 100 edged 0.3% higher.

He also cautioned that keeping rates elevated for too long could weaken the economy, giving hope to rate cut-hungry investors. The focus is now on Powell's appearance in the House on Wednesday for part two of his twice-yearly policy update. Investors will be on the alert for clues to whether bets that two rate reductions are coming this year are well-placed. But a key test for stocks and rate-cut prospects still lies ahead, in the crucial consumer inflation report due on Thursday.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 47. in US

United States United States Latest News, United States United States 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 wavers following congressional testimony from PowellStocks closed mixed on Wall Street after testimony from Federal Reserve Chair Jerome Powell in front of Congress provided little new guidance on the Fed’s plans on when it might lower interest rates.
Source: SooToday - 🏆 8. / 85 Read more »

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: S&P 500 set to build on record high with Powell on deckJerome Powell will shed light on the Fed's picture of the economy as he gives a policy update to the Senate.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq eke out fresh records with Powell on deckA consequential week that could provide key signals for the near-term path of interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »