U.S. Stocks Move To The Downside Following Powell Remarks
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U.S. stocks declined after Federal Reserve Chair Jerome Powell stated the Fed does not need to rush to lower interest rates due to economic strength; Dow fell 207.33 points (0.5%) to 43,750.86, Nasdaq down 123.07 points (0.6%) to 19,107.65, S&P 500 decreased 36.21 points (0.6%) to 5,949.17; Powell's comments made during an event in Dallas, Texas; initial jobless claims fell to 217,000 for the week ending November 9, down from 221,000; producer price index rose 0.2% in October; concerns about sticky inflation may slow rate cuts in early 2025; biotech stocks dropped 2.8%, while airline stocks rose 1.8%; Asian markets mostly lower, European markets up; bond yields fell to 4.418%; trading on Friday may be influenced by upcoming U.S. economic data.

#Stocks #FederalReserve #JeromePowell #InterestRates #EconomicData #JoblessClaims #ProducerPrices #Biotech #Airlines #MarketTrends

https://www.rttnews.com/3490733/u-s-stocks-move-to-the-downside-following-powell-remarks.aspx