U.S. stock indexes reversed course on Tuesday as technology stocks recovered, with investors taking comfort in Federal Reserve Chair Jerome Powell’s testimony to Congress not delivering any major surprises. Powell said the central bank’s plans to tighten monetary policy this year were not undercutting strong employment in an economy that “no longer needs or wants” massive stimulus. “The reaction we’re getting today is a reflection of things that we already know,” said Art Hogan, chief market strategist at National Securities in New York. At least three rate hikes are baked in to the market over the course of the last month and less of a surprise in the testimony is being taken as less of a negative, Hogan added. The S&P 500 index is on course to break a five-day slump, while the Nasdaq is set to extend gains from Monday, as big tech stocks edged higher after being battered …
-
Recent Posts
-
Archives
- May 2025
- April 2025
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- September 2013
- July 2013
- March 2013
- January 2013
- December 2012
- November 2012
- December 1
-
Meta