Xinhua
30 Nov 2022, 09:30 GMT+10
NEW YORK, Nov. 29 (Xinhua) -- U.S. stocks finished mixed on Tuesday, ahead of a key speech by Federal Reserve Chairman Jerome Powell.
The Dow Jones Industrial Average increased 3.07 points, or 0.01 percent, to 33,852.53. The S&P 500 decreased 6.31 points, or 0.16 percent, to 3,957.63. The Nasdaq Composite Index fell 65.72 points, or 0.59 percent, to 10,983.78.
Six of the 11 primary S&P 500 sector ended in red, with technology and utilities down 0.98 percent and 0.73 percent, respectively, leading the laggards. Real estate rose 1.71 percent, the best-performing group.
Powell is set to speak on the outlook for the U.S. economy, inflation and the labor market at a Brookings Institution event on Wednesday.
With inflationary pressures continuing to run hotter than the Fed would like, many Fed officials have underscored the need to continue to keep increasing interest rates.
New York Fed President John Williams on Monday said interest rates need to rise further and stay high through next year.
In an interview with MarketWatch on Monday, St. Louis Fed President James Bullard said financial markets are underestimating the chances that policymakers will need to be more aggressive next year in raising interest rates to curb inflation.
In early November, the U.S. central bank raised interest rates by 75 basis points for the fourth consecutive meeting, and many analysts are expecting a 50-basis-point increase at the Fed's next meeting in mid-December.
Get a daily dose of Baton Rouge Post news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Baton Rouge Post.
More InformationNEW YORK, New York - Wall Street continued its advance on Tuesday as investors continued to weigh up the health ...
WASHINGTON D.C.: The US State Department has issued a travel warning regarding dangerous fake pills sold at pharmacies in Mexico, ...
FRANKFURT, Germany: The German Automobilwoche magazine has reported that as part of its efforts to switch to selling electric vehicles ...
NEW YORK, New York - U.S. stocks rallied on Monday following the weekend buy-in of Credit Suisse by UBS, which ...
WASHINGTON D.C.: The US Federal Reserve Bank has announced that cash-strapped banks throughout the US borrowed some $300 billion during ...
BEIJING, China: Following the inability of China Huarong Asset Management Co Ltd to release financial reporting obligations in 2020, China ...
WASHINGTON D.C.: The Alzheimer's Association is lobbying Congress to enable early Medicare coverage of a new class of drugs, beginning ...
DUBLIN, Ireland: Ireland has the world's fourth highest consumption of cocaine, according to a new United Nations report.The UN further ...
TAIPEI, Taiwan: The founder of chip manufacturer TSMC, Morris Chang, said that he supports the efforts of the US to ...
GENEVA, Switzerland: An annual global survey by Swiss air purifier maker IQAir reported that Lahore, Pakistan, was the city with ...
MENLO PARK, California: As the tech industry prepares for a major economic downturn, Facebook-parent company Meta Platforms has announced that ...
Washington [US], March 22 (ANI): White House National Security Council spokesman John Kirby has said that in President Vladimir Putin ...