Regional Fed presidents don't currently see the need for more rate cuts
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| | 8/22/2019 | |
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Stocks End Mixed Ahead of Powell Speech | By Josh Selway | | Stocks seesawed today, trading on both sides of breakeven, with investors mostly monitoring updates from the Jackson Hole symposium. With Fed Chair Jerome Powell due to speak tomorrow, multiple regional Fed presidents said they don't see the need for more rate cuts at the moment. Traders also reacted to another brief inversion of the yield curve and disappointing manufacturing data. In all, the Dow managed a solid gain thanks to Boeing's (BA) big day, though the S&P and Nasdaq struggled to gain momentum. Continue reading for more on today's market, including: | >> Continue reading... | |
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