(Finance) – Initial enthusiasm fades on Wall Street and indices go into negative territory after the Fed Chairman Jay Powell, speaking at the Jackson Hole annual symposium, warned that the institution’s board “is prepared to raise rates again if appropriate.” Acknowledging the progress already made in tightening monetary policy, Powell said the Fed was in a position to weigh its next moves cautiously.
Among US indices, the Dow Jones reports a variation of -0.08% while, on the contrary, it yields to sales theS&P-500, which recedes to 4,362 points. Slightly down the NASDAQ 100 (-0.56%); with similar direction, fractionally decreasing theS&P 100 (-0.43%).
The sector stands out in the S&P 500 basket utilities. Among the most negative of the S&P 500 list, we find the sub-funds telecommunications (-1.56%) and informatics (-0.47%).