Schaeffer's Market Recap Fed Chair Jerome Powell said low inflation was only "transitory"
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| | | 5/01/2019 | |
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| Stocks Reverse Lower on Fed Comments | | By Lillian Currens | | Fed Chair Jerome Powell's comments on a "transitory" period of low inflation deflated hopes for a potential rate cut on the horizon. Against this backdrop, the major stock market indexes turned lower, erasing earlier gains stemming from solid Apple (AAPL) earnings. By the close, the Dow, S&P 500, and Nasdaq were in the red, though the SPX touched a new record high before its reversal. Continue reading for more on today's market, including: - 3 reasons to grab calls on this insurance stock.
- This chip stock attracted bullish analyst attention after earnings.
- 2 drug stocks that made massive moves today.
- Plus, ULTA stock could heat up; the China stock set for a major breakout; and 2 blue chips to buy now.
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