Dec. Fed Rate Cut Still Likely, Despite Powell Pushback
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Stocks finish mostly lower even after the Fed cut interest rates and said it will stop shrinking its balance sheet on Dec. 1. Separately, investors are preparing for earnings from three of the Mag 7 mega-cap stocks after the close.
Fed Chair Jerome Powell acknowledged Wednesday that the soaring stock market is helping support consumer spending — and the overall economy — right now.
The S&P 500 has been in a bull market for three years, but the momentum could stall, depending on the outcome of several crucial events this week.
India's equity benchmarks are poised to open higher on Thursday, supported by the Federal Reserve's interest rate cut and optimism over a potential U.S.-China trade deal ahead of a meeting between Presidents Donald Trump and Xi Jinping.
When Jerome Powell speaks, markets listen. As well they should. Powell serves as the chair of the Federal Reserve Board. As part of this role, he also leads the Federal Reserve Open Market Committee (FOMC), which sets the monetary policy of the U.S.
U.S. stocks were attempting fresh record highs on Monday, kicking off a week that will see Big-Tech earnings and a Fed rate decision.