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Wall Street Responds to Fed Chair’s Comments: An Overview of Market Changes

Reuters

Global stocks edged higher while U.S. Treasury yields dipped on Tuesday as markets weighed data showing a persistently tight labor market, and prospects of interest rate cuts after comments from Federal Reserve Chair Jerome Powell.

The Fed needs more data before cutting rates to ensure recent weaker inflation readings properly reflect underlying price pressures, Powell told a conference in Portugal on Tuesday.

The thoughts and opinions expressed in the article are solely those of the person speaking as of 7/2/2024, and not necessarily those of Sierra and are provided for informational purposes only. Any opinion or estimate contained in this article is made on a general basis and is not to be relied upon by the reader as advice. The reader must make his/her own assessment of the relevance, accuracy, and adequacy of the information contained in this article, and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment.

0144-SI00XCOM 07152024

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