US stock futures fall early Wednesday, as investors brace for Powell's testimony. Meanwhile,...
US stock futures fall early Wednesday, as investors brace for Powell's testimony. Meanwhile, in London, traders are expecting further Bank of England interest-rate hikes after another shock inflation reading. Check out the latest market moves.
Earnings on deck: KB Home, Patterson Companies, and Winnebago Industries, all reporting.
A Canadian plane searching for the vessel detected “underwater noises,” the U.S. Coast Guard said.
The Coast Guard said that some of the remote-operated vehicles involved in the search near the Titanic...
The Coast Guard said that some of the remote-operated vehicles involved in the search near the Titanic had been relocated in an attempt to determine the origin of the sounds.
Fed chief Jerome Powell tells Congress to expect higher interest rates
Federal Reserve Chair Jerome Powell on Wednesday told Congress that, with U.S. inflation well above target,...
Federal Reserve Chair Jerome Powell on Wednesday told Congress that, with U.S. inflation well above target, more interest rates are likely this year, although he did not shed any new light on the timing of the moves. Powell was vague on the timing.
“Nearly all FOMC participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year, ” Powell said, in testimony prepared for delivery to the House Financial Service Committee on Wednesday.
Benchmark U.S. crude oil for July delivery fell $1.28 to $70.50 a barrel Tuesday. Brent crudefor August delivery fell 19 cents to $75.90 a barrel.
Wholesale gasolinefor July delivery fell 7 cents to $2.61 a gallon. July heating oilfell 7 cents to $2.48 a gallon. July natural gasfell 14 cents to $2.49 per 1,000 cubic feet.
Dow ends down nearly 250 points as rally pauses ahead of Fed testimony
U.S. stocks closed lower on Tuesday, the first day of trading...
U.S. stocks closed lower on Tuesday, the first day of trading after thelong federal Juneteenth holiday. The Dow Jones Industrial AverageDJIA fell about 245 points, or 0.7%, ending near 34,053, while the S&P 500 index SPX closed about 0.5% lower and the Nasdaq Composite Index COMP shed 0.2%, according to preliminary FactSet figures. Stocks were lower to start the week after the S&P 500 on Friday booked a fifth straight week of gains and stocks recently touched their highest level in more than a year. Investors were waiting on Federal Reserve Chairman Jerome Powell’s congressional testimony on monetary policy, which kicks off Wednesday, for more insights into the central bank’s thinking on interest rates after senior officials penciled in two more potential hikes this year while skipping a rate increase at its June meeting.
