The Federal Reserve is nowhere near to pulling back on its support for the pandemic-damaged U.S. economy, Chairman Jerome Powell signaled at his testimony before Congress on Tuesday.
U S stocks roar back after Powell s reassurance bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
On The Money: Schumer urges Democrats to stick together on $1 9T bill | Collins rules out GOP support for Biden relief plan msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
By Joe Wallace and Michael Wursthorn Stocks rebounded Tuesday after Federal Reserve Chairman Jerome Powell signaled that an interest-rate increase from the central bank isn t imminent, easing some concern over rising bond yields. Major stock indexes turned positive in late-afternoon trading after Mr. Powell told lawmakers that inflation remains soft, tamping down recent fears of a policy shift by the central bank following a spike in bond yields. Earlier in the session, the tech-heavy Nasdaq Composite Index dropped as much as 4% and investor favorites including Tesla and Moderna logged double-digit losses. Portfolio managers said the moves marked a rotation out of the high-growth favorites of the past year and into more economically sensitive stocks such as banks and manufacturers.
Rupee - Feb 23, 2021 - Reliance Securities equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.