- US stocks jumped on Tuesday as investors look to shake off Fed Chair Jerome Powell's hawkish speech from last week.
- At Jackson Hole, he reiterated the Fed's resolve to tame inflation by continuing to raise interest rates.
- Bond yields slowed their ascent on Tuesday after a two-day surge following Powell's speech.
US stocks traded higher on Tuesday in its first rebound attempt following Fed Chair Jerome Powell's hawkish speech at Jackson Hole on Friday.
Tuesday's move higher in the stock market came as bond yields looked to have hit a wall, slowing their ascent and briefly falling early Tuesday morning.
The subdued move in bond yields suggests investors aren't fully buying the extra-hawkish attitude that was on display by Powell last week, as he reiterated the Fed's resolve to tame inflation by raising interest rates and reducing its balance sheet.
Here's where US indexes stood shortly after the 9:30 a.m. ET open on Tuesday:
- S&P 500>$4: 4,041.12, up 0.26%
- Dow Jones Industrial Average>$4: 32,159.26, up 0.19% (60.27 points)
- Nasdaq Composite>$4: 12,080.10, up 0.52%
$4 shares slipped Tuesday after Elon Musk $4 who spoke out against the social media company as $4 multibillion-dollar takeover.
$4 dropping back from their recent climb as traders look ahead to looming rate hikes from central banks, as well as the OPEC+ meeting next week. As inflation remains high in the US and Europe, markets are anticipating additional, aggressive rate hikes from central banks which could spark a slowdown.
Europe is close to $4 ahead of winter, with countries two months ahead of schedule on storage as they scramble to replace Russian supplies. Inventory data shows the European Union had filled up its winter reserves to 79.94% as of Sunday, according to $4. That's just shy of its goal of 80% by November 1.
Warren Buffett's $4 has trimmed its $4 stake for the first time in 14 years, a Hong Stock Exchange $4 revealed Tuesday. The famed investor's conglomerate $4 of the Chinese electric-vehicle maker for around $47 million last week. The disposals reduced its position from 220 million shares to 218.7 million shares, the filing shows.
$4 oil fell 3.19% to $93.92 per barrel. $4, oil's international benchmark, fell 3.37% to $101.55.
Bitcoin ticked up 0.45% to $20,363. Ether prices rose 1.89% to $1,573.
$4 fell 0.31% to $1,744.20 per ounce. The yield on the 10-year Treasury was flat at 3.10%.