Fed, Wall Street
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Wall Street has been hanging on every word of Federal Reserve chief Jerome Powell as stocks charged to record highs. Investors hope he’ll give more clues Tuesday as to how much the Fed will cut U.S. interest rates.
Powell closely studies the broad financial picture when making decisions. Investors were eagerly awaiting the recent rate cut, as lower interest rates are positive for the stock market. The Federal Reserve recently lowered interest rates for the first time this year.
And inflation has already proven difficult to get under the Fed’s 2% target. Another threat for Wall Street is if the job market slows too much. In that case, a recession could create a downturn in corporate profits that’s steep enough to swamp the ...
14hon MSN
Wall Street sets more records, but bond yields drop following discouraging data on the job market
NEW YORK (AP) — Stocks rose to more records on Wednesday, as Wall Street still doesn’t care much about the shutdown of the U.S. government, but yields sank in the bond market following the latest discouraging signals on the economy.
The S&P 500 added 0.4% in early trading Monday, coming off its first losing week in the last four. The Dow Jones Industrial Average edged up 29 points, or 0.1%, and the Nasdaq composite was up 0.6%. All three are near their all-time highs set a week ago.