The S & P 500 index recorded minimal growth on Tuesday because investors digest the caution of the President of the President of the Federal Reserves of Jerome Powell on interest rates.
Concerns remain about the direction of the economy in the middle of American customs and the possible escalation of the global trade war.
The S & P 500 added 0.03% and ended at 6,068.50, while Nasdaq Composite lost 0.36% and closed at 19,643.86. Dow Jones Industrial Average received 123.24 points, or 0.28%, to 44,593.65.
Apple received 2.2% after The Information reported that the company was in partnership with Alibab to develop artificial intelligence for iPhone users in China, restraining market losses.
Powell was previously addressed by the Senate Banking Committee and signaled that the FED did not need to act quickly to mitigate monetary policy.
“With our political position that is now significantly less restrictive than it was, and the economy remains strong, we do not need to rush by adapting our political point of view,” Powell said in his first of the two-sodgy appearances at Capitol Hill. The head of the Central Bank called the economy “generally strong” with a “solid” labor market and said that inflation decreases, but it is still above the Fedovary of 2%.
Powell’s testimony – after which his appearance of his appearance for the Financial Services of the House of Representatives – comes to the unstable time in Washington with the President Donald Trump, and favors the members of the administration on its approach to the FED.
Trump signed new customs on all the imports of steel and aluminum in the USA, transmits SEEbiz. The European Union replied by saying that he would return his own leases if the United States introduces customs to products from the blocks of countries.
Investors expect fresh information about inflation in the form of the latest report on the consumer price index that will be published on Wednesday, while the manufacturers’ price index will be published on Thursday.
“I really think the market gazi water, listens to Powella and is waiting to see what tomorrow’s CPI will bring,” Stovall said Sam, the main investment strategist in Cfra Research. “I believe investors will really increase prices based on salaries, not expecting multiple expansion p / e,” Stovall added.
“The only concern about the earnings could be that part of enthusiasm in this quarter is the result that something was taken from the assessment for the next quarter,” Stovall said. “The question we will see in the coming months did we really see the acceleration of ordering before the expected Trump Customs, and that gave an artificial incentive to the appearance of the economic improvement?”
