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Wall Street eases as investors digest Fed comments
U.S. stocks eased further from recent record highs on Thursday as investors digested comments from Federal Reserve Chairman Jerome Powell the previous day that dampened some investor hopes of an interest rate cut this year. On Wednesday, Powell sought to downplay low inflation as transient, forcing traders to lower their bets on a rate cut this year and snapping a rally in the S&P 500 on Wednesday. Stocks have "done extremely well, and pockets of the market are overdone," said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey.
https://finance.yahoo.com/news/futures-eke-gains-investors-look-114029331.html?.tsrc=rss
U.S. stocks eased further from recent record highs on Thursday as investors digested comments from Federal Reserve Chairman Jerome Powell the previous day that dampened some investor hopes of an interest rate cut this year. On Wednesday, Powell sought to downplay low inflation as transient, forcing traders to lower their bets on a rate cut this year and snapping a rally in the S&P 500 on Wednesday. Stocks have "done extremely well, and pockets of the market are overdone," said Quincy Krosby, chief market strategist at Prudential Financial in Newark, New Jersey.
https://finance.yahoo.com/news/futures-eke-gains-investors-look-114029331.html?.tsrc=rss
