Wall Street volatile as traders digest Powell’s words

Wall Street volatile as traders digest Powells words

(Tiper Stock Exchange) – Wall Street is volatile in conjunction with the Fed’s decision to raise interest rates by 25 basis points and the words of Jerome Powell during the press conference. The main indexes rose after the central banker said that, in the days leading up to the meeting, a stop to the increase in the cost of money was considered, and they veered lower after the number one of the Federal Reserve underlined how the Fed’s hands “are not tied” and, if necessary, it will raise rates higher. Following the conclusion of the press conference, shares rallied from session lows back into positive territory.

If we need to raise rates higher, we will. I think for now though, as we’ve said, we see the likelihood of a credit crunch,” he said, noting that “rate cuts aren’t in our base case scenario.” Additionally, Powell said “it’s too early to tell.” whether bank events will impact the potential for a soft landing.”

Weak session for the US list, which trades with a drop of 0.42% on the Dow Joneswhile, conversely, colorless theS&P-500, which continues the session at 3,995 points, on the same levels as before. In fractional progress the NASDAQ 100 (+0.36%); consolidates the levels of the eveS&P 100 (+0.07%).

In light of the North American S&P 500 the compartment informatics. At the bottom of the ranking, the biggest declines occur in the sub-funds power (-0.97%), financial (-0.95%) and industrial goods (-0.65%).

Unique among the Blue Chips of the Dow Jones to report a significant increase is Microsoft (+0.81%).

The worst performances, however, are recorded on Nike, which gets -3.65%. The negative performance of boeingwhich drops by 2.75%. Travelers Company drops by 2.17%. Decided decline for Walgreens Boots Alliance,which marks a -1.89%.

To the top between Wall Street tech giantsthey position themselves Advanced Micro Devices (+3.75%), Nvidia (+3.48%), Lululemon Athletica (+2.95%) and ASML Holding (+1.53%).

The worst performances, however, are recorded on Pdd Holdings Inc. Sponsored Adr, which gets -4.19%. Under pressure Align technology, with a sharp drop of 2.91%. He suffers Idexx Laboratories, which shows a loss of 2.91%. Prey of sellers Autodeskwith a decrease of 2.86%.