How many more rate hikes does the Fed have left? That’s what investors were worried about after the central bank’s latest policy decision left rates on hold.
Few investors today are expecting fireworks from the Fed. But wealth managers say they will be watching Chairman Jerome Powell’s press conference for clues about what could happen next in the central bank’s fight against inflation.
“The idea that if we stop one or two meetings it will be difficult to raise the rate again is incorrect,” Powell said at a press conference.
Treasury yields fell in early trading after the Treasury announced it would increase auctions for long-term bonds and bonds by a slightly smaller amount than expected. On the other hand, stock indexes rose slightly.
As of Wednesday afternoon:
Stock prices rose slightly. The Dow Jones Industrial Average rose about 0.5%, or about 100 points. The S&P 500 rose 0.5% and the Nasdaq rose about 0.7%.
The 10-year bond yield fell. Benchmark yields fell slightly, falling below 4.8% for the first time since mid-October, but have since recovered slightly.
paycom softwarePayroll and HR technology companies have plummeted. Revenue growth is expected to slow.
gold swayed$2,000 per troy ounce is back in range after settling above that threshold earlier this week.
