NEW YORK, Dec 17 - U.S. stocks retreated on Tuesday and the Dow dropped for a ninth straight session, as investors exercised caution ahead of the Federal Reserve's last policy announcement of the year after economic data indicated consumer spending remained solid.
Of particular attention will be the Fed's summary of economic projections and comments from Chair Jerome Powell, which may indicate how aggressive the U.S. central bank will be in cutting rates in 2025. "Everyone knows we're getting 25 bps ... what Powell is going to say at the press conference, what the SEP is going to tell us, those things people are not quite sure of so you have a little bit of jitters ahead of that."Traders work on the floor at the New York Stock Exchange in New York City, U.S., December 10, 2024.
Treasury yields oscillated between gains and losses on the day as investors braced for a"hawkish cut" from the Fed. Pfizer , jumped 4.7% after the drugmaker forecast 2025 profit roughly in line with Wall Street expectations.
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:
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.
Premarket: Stocks edge up on Fed cut bets; euro firm ahead of ECB decisionCrude extends gains amid threat of more Russia sanctions
Source: globeandmail - 🏆 5. / 92 Read more »
Stocks ease after Fed-driven rally; euro firm ahead of ECB decisionThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
US stocks inch higher ahead of Fed; Bitcoin surgesThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Wall St Week Ahead Fed rate view in focus as robust stocks year draws to closeThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Wall Street Falls as Tech Stocks Drag on Investor Caution Ahead of Fed MeetingU.S. stock indexes declined on Tuesday as investors turned cautious ahead of the Federal Reserve's interest rate decision this week, despite strong November retail sales figures. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all fell, with technology stocks leading the decline. Investors are closely watching for signs of the Fed's future monetary policy stance, particularly after recent data indicated a resilient U.S. economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »
Premarket: Global stocks dip on concerns over Fed rate plans, disappointing China retail dataEuropean PMIs weak again
Source: globeandmail - 🏆 5. / 92 Read more »