Following another round of mixed earnings reports last night, including disappointing ones from Pinterest and Chegg , equities are waiting for Fed Chair Powell's remarks about what's ahead for monetary policy following the hotter-than-expected January Employment report. In addition to significantly more jobs created during the month than expected, that report showed another tick lower in the Unemployment Rate, amping the Fed's concern over the tight labor market. The worry is a tighter-than-expected labor market will continue to bolster wage inflation pressures, keeping the Fed in rate-hiking mode longer than previously thought by the market. Read More...
MarketWatch
U.S. stock futures are down ahead of comments from Fed chief Powell
U.S. stock index futures were muted and mixed Tuesday ahead of comments from Federal Reserve Chair Jerome Powell, speaking for the first time since a blowout January jobs report caused traders to shift their interest-rate forecasts closer to the one he’s championed. On Monday, the Dow Jones Industrial Average (DJIA) fell 35 points, or 0.1%, to 33891, the S&P 500 (SPX) declined 25 points, or 0.61%, to 4111, and the Nasdaq Composite (COMP) dropped 120 points, or 1%, to 11887.
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