NASDAQ Composite (^IXIC)
| Previous close | 15,657.82 |
| Open | 16,007.00 |
| Volume |
| Day's range | 15,557.64 - 15,926.22 |
| 52-week range | 11,925.37 - 16,538.86 |
| Avg. volume | 5,182,241,311 |
Yahoo FinanceJay Powell won't give in to the market's biggest fear: Morning Brief
As interest rate cuts get pushed into the future, investors fear potential rate hikes. Fed Chair Jerome Powell, however, appears not to share these worries.
Yahoo FinanceStock market today: Stocks end mixed in volatile session after Fed decision, Powell comments
Fed day arrives with the focus on what clues Powell will offer to the chances for rate cuts this year.
- Yahoo Finance Video
Market reprices for Fed rate cuts, but has it swung too far?
The Federal Reserve is set to announce its decision on interest rates Wednesday afternoon, so what does this mean for markets? HSBC Global Private Banking Global Chief Investment Officer Willem Sels joins The Morning Brief to discuss the potential market fallout from the Fed's communication. Sels believes that a rate cut announcement is unlikely to follow the conclusion of the Federal Open Market Committee's (FOMC) meeting today. He notes that markets have "completely shifted" from pricing in previous rate cut predictions to expecting just one potential cut. Sels highlights that the only scenario in which the announcement could be perceived as "negative for markets" is if Fed Chair Jerome Powell hints at no rate cuts whatsoever this year. Sels also sheds light on "the other side of the coin" of this higher-for-longer rate environment, suggesting that markets are likely to continue exhibiting strength. He emphasizes that current earnings are driving market performance, describing the strength of earnings as "relatively broad-based." For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith
