Stocks Pause Near Record; U S Futures Edge Higher: Markets Wrap swissinfo.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swissinfo.ch Daily Mail and Mail on Sunday newspapers.
U.S. stock futures were mixed Friday, a day after modest gains pushed the S&P 500 to another closing record and the Dow Jones Industrial Average within 24 points from Monday s record close. The Nasdaq was the real winner Thursday, logging a 1% gain on strength in tech names. The Nasdaq was less than 2% from its February record close. Lending support to stocks, Federal Reserve Chairman
Jerome Powell on Thursday called the U.S. economic recovery from the Covid pandemic uneven and said temporarily higher prices won t lead to worrisome inflation. Those comments offered investors a reassurance that ultra-accommodative Covid-era monetary policies won t change soon.
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Powell s Plea
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Federal Reserve Chairman Jerome Powell must feel like I used to when my mom would ask if I had gone into the cookie jar. Not taking no for an answer, I was always compromised by the sound that ceramic jar made even when I thought I was lifting the lid straight up.
She would ask again and again, and no matter how incredulous, she just didn’t believe me.
For different reasons, the market is still not convinced Powell & Co can keep rates at current levels for as long as promised. Are they hearing something akin to that subtle noise that cookie jar made or is it something much louder?
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04/09/2021 08:00 AM EDT
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