Commentary Wall Street, we have a margin problem. Shares of Target (TGT) fell by 25 percent on Wednesday, May 18 as their margins shrank by the same amount. TGT margins collapsed due to higher input costs, overstocking, and overstaffing. So much for the mantra that stocks are a great hedge against inflation. In reality, inflation is…
LIVE: Fed Chair Discusses Policy Decision
The Federal Reserve is expected on Wednesday to announce that it is speeding up the end of its pandemic-era bond purchases and signal a turn to interest rate increases next year as a guard against surging inflation. …
Gold Slips 1 Percent as Powell’s Hawkish Stance Bolsters Yields
Gold prices fell over 1 percent on Tuesday after the U.S. Federal Reserve Chair Jerome Powell hinted at big rate hikes down the year to curb soaring inflation, sending Treasury yields higher. Gold is highly sensitive to rising U.S. interest rates, as they increase the opportunity cost of holding non-yielding bullion. Spot gold XAU= was…
LIVE at 2:30 PM ET: Federal Reserve Chair Jerome Powell Gives Update on Interest Rate Policy
The Federal Reserve is expected on Wednesday to announce that it is speeding up the end of its pandemic-era bond purchases and signal a turn to interest rate increases next year as a guard against surging inflation.
Wall Street Opens Higher as Powell Says Rate Hikes on Track
U.S. stock indexes opened higher on Wednesday after a bruising start to the week, as Federal Reserve Chair Jerome Powell signaled the central bank would start raising rates this month despite uncertainties stemming from the Ukraine crisis. The Dow Jones Industrial Average rose 84.56 points, or 0.25 percent, at the open to 33,379.51. The S&P…
Powell the Pivoter Cannot Now Pivot Back to a Dove
Commentary The current Fed Chair Jerome Powell is perhaps best known for his quick pivots from hawkish back to dovish and vice versa. Maybe he is just too dependent on the prevailing winds of the current economic data. Or, perhaps more accurately, he is most swayed by the performance of the stock market. In either…
Dollar Breaks Higher and Shares Fall After Fed’s Powell Strikes Hawkish Tone
LONDON—Stocks fell on Thursday, U.S. two-year bond yields rocketed to 23-month highs and the dollar busted out of its recent range after the Federal Reserve stuck to plans for an interest rate rise in March and Chair Jerome Powell warned about inflation. The Euro STOXX fell 0.19 percent while Germany’s DAX lost 0.52 percent. Wall…
Global Stocks, Wall Street up After Powell Says Rates to Rise
BEIJING—Global stocks and Wall Street futures advanced Wednesday after Federal Reserve chairman Jerome Powell said U.S. monetary policy would return to normal and interest rates might be raised earlier than planned. London and Frankfurt opened higher. Shanghai, Tokyo, and Sydney advanced. Wall Street’s benchmark S&P 500 index rose 0.9 percent on Tuesday after Powell said…
Wall Street Bounces as Tech Stocks Rise After Powell’s Testimony
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”…
Wall Street Down Ahead of Powell Testimony
U.S. stock indexes fell on Tuesday ahead of Federal Reserve Chair Jerome Powell’s testimony that may offer fresh insight on policy tightening and the central bank’s plans to tackle inflation. Powell is set to appear before the Senate Banking Committee at 10 a.m ET for consideration for a second four-year term as head of the…
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