© Reuters.
By Liz Moyer
Investing.com — US stocks slide ahead of Federal Reserve Chairman Jerome. Powell will appear tonight. As investors try to assess the central bank’s next steps.
As of 9:45 AM ET (14:45 GMT), it was down 111 points, or 0.3%, while it was down 0.2% and up 0.1%.
Powell is participating in a Q&A at the Economic Club of Washington, D.C., and his answers will be evaluated for clues on how the Fed will proceed with interest rates.
It came out strong last week in January. This gives investors reason to believe that the Fed will continue to raise interest rates to curb it. Meanwhile, some investors are looking for signs that the Fed may pause rate hikes or even reverse rate cuts.
Last week, when the Fed was up 0.25 percent, Powell said the work on inflation was not finished. That was echoed by other Fed officials.
The prospect of the Fed nearing an end to tightening has boosted growth stocks this year, with the Nasdaq comprised of tech stocks up 13% so far this year, although growth has slowed in the sector.
stock of Bed Bath & Beyond Inc (NASDAQ:) fell 38.9% Tuesday after the struggling home goods retailer announced plans for a $1 billion stock sale to raise cash.
share Royal Caribbean Cruises Ltd (NYSE:) soared 5.3% after it reported bookings exceeded pre-pandemic levels due to losses. less than expected
Oil rose 1.5% to $75.20 a barrel, while it gained 1.1% to $81.89 a barrel, gaining 0.2% to $1,882 an ounce.
