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The chairman of the federation, Jerome Paul, will go to the Senate on Tuesday for a second term.
Photo by Anna Moneymaker / Getty Images
Shares need a little reassurance that the Federal Reserve will not hurt much of the economy. The chairman of the federation, Jerome Paul, presented it on Tuesday.
Powell went to Capitol Hill for an appointment hearing before the Senate Banking Committee. Demonstrated confidence in markets and recovery. After that, investors started buying.
At the end of the day, the
Dow Jones Industrial Average
He earned 183 points, or 0.5% and
S&P 500
0.9 percent higher. Tech-heavy
Nasdaq Composition
1.4% added. All three indexes were red in the morning.
Nasdaq change is fast paced. The index regained about 4% of its recent low – hit Monday. He returned late Monday to catch a four-day losing streak with the biggest 9% drop ever.
Investors have not been alarmed since last week’s release of the December minutes. The central bank has made it clear that it is ready to raise interest rates and reduce the size of its accounts to combat inflation. One wonders how fast the central bank will strengthen its policy.
On Tuesday, Paul did not say much about the “Hawkish” policy or the markets and the economy. A few days ago, John Colovos, chief technical strategist for macro-risk consultants, said that his continued approach to growing “over-sold” technology stocks had played a key role.
One of the main reasons for the rise in tech stocks is that 10-year treasury yields have fallen below 1.8%, the epidemic has been high for the past two days. It is 1.74%, and investors are relieved. High long-term bond productivity will reduce future profits – and many technology companies have been making huge profits along the way for many years.
Rising productivity comes as investors continue to adjust to high inflation and tight monetary policy. The Federal Reserve – as noted in recent weeks – could lead to earlier and faster interest rates and ultimately higher interest rates.
“After Paul’s testimony, some investors feel that they have received a clear signal to buy the bait,” wrote Edward Moya, senior market analyst at Oda.
In fact, short-term interest rates have fallen sharply in recent years, indicating that markets are not yet expecting the federation to raise prices more than three times this year. Two-year treasury production closed at 0.9% after reaching 0.92% on the day.
“Remaining rates on Czech equity markets have yielded huge profits,” writes Michael Reinking, a New York Stock Exchange market strategist.
A.D. Bitcoin, which was a big start in 2022, will be back. Appeared on Monday
Bitcoin,
For the first time since September 2020, the major cryptocurrency traded under $ 40,000. It recouped losses on Tuesday and hovered over $ 42,500.
Overseas, Pan-European
Stoxx 600
Growing by 0.8%, trade in Asia was further weakened by region Covi-19. Tokyo
Nike 225
Japan is down 0.9% as it moves to extend strict border controls until the end of next month.
Here are the 8 stocks that are moving on Tuesday:
Alcoa (Signal AA) Aluminum’s stock lost 1.4 percent after Deutsche Bank analysts’ downtrend to Hold of Buy. Shares have more than doubled over the past year.
Big lots (BIG) Shares fell 1.4% after administration reduced its quarterly budget. Reduced foot traffic in stores has been blamed on the rapidly expanding oscillations of the CVD-19. It is a feeling shared by many other retailers in recent days.
Shake Shack (SHAK) Shares rose 13 percent after quarterly earnings surpassed Wall Street estimates. However, the administration has warned that some areas will need to reduce their hours due to a shortage of staff due to the omissions.
Illuminina (ILMN) Shares rose 17 percent after analysts’ quarterly forecast for the fourth quarter and fiscal 2022. Gene-Securing Company announces new partnerships in cancer diagnosis and treatment and other sectors.
Pfizer PFE stock increased by 0.8% and covand-19 vaccine co-developer increased.
Biotech (BNTX) decreased by 6.2 percent. Pfizer says a new vaccine should be launched to attack Omicron cholera virus in March.
Rivian RIVN has increased its previous losses to 2.6% since the announcement of the release of Chief Operating Officer Rodney Cops.
International trading machines IBM decreased by 1.6% after UBS.
Write to Nicolas Jasinski at nicholas.jasinski@barrons.com and Jack Denton at jack.denton@dowjones.com
