U.S. stocks finished mixed after the head of the Federal Reserve said the cuts to interest rates that Wall Street craves so much are still likely, even if they’re delayed because of stubbornly high inflation. The S&P 500 fell 0.3% Wednesday after seeing a big afternoon rally evaporate. The Dow Jones Industrial Average rose 0.2%, and the Nasdaq composite lost 0.3%. On the downside for financial markets, the Fed’s chair said inflation is taking longer than expected to get under control. But he also said its next move is unlikely to be a rate hike and announced moves to help stabilize the bond market. On Wednesday: The S&P 500 fell 17.30 points, or 0.3%, to 5,018.39. The Dow Jones Industrial Average rose 87.37 points, or 0.2%, to 37,903.29. The Nasdaq composite fell 52.34 points, or 0.3%, to 15,605.48. The Russell 2000 index of smaller companies rose 6.32 points, or 0.3%, to 1,980.23. |
Nvidia to release earnings as AI demand continues unabatedHunter Biden seeks a delay in his federal tax trial set to begin in Los Angeles next monthTragedy as Malaysian influencer couple's toddler son drowns in hotel pool while they were asleepPassengers describe turbulenceNew York senator won't face charges after he was accused of shoving an advocateDutch coalition government dominated by an antiFormer UK Post Office boss breaks down in inquiry over scandal that saw hundreds wrongly convictedNASCAR fines Stenhouse $75,000 for postSites with radioactive material more vulnerable as climate change increases wildfire, flood risksQueen Silvia of Sweden, 80, shows off her moves to the ABBA hit Dancing Queen on visit to Thailand