- US stocks traded lower Tuesday, with Fed Chair Jerome Powell scheduled to speak at 12:40 p.m. ET in Washington, DC.
- Markets rallied last week after the Fed's 25-basis-point rate hike and Powell's upbeat comments on the economy.
US stocks moved lower Tuesday ahead of Federal Reserve Chairman Jerome Powell's speech at the Economic Club of Washington at 12:40 pm ET.
After Powell's disinflation comment following the Fed's 25-basis-point rate hike last week, markets rallied. Investors interpreted the press conference as more dovish, and on Tuesday they will be watching for insight into upcoming monetary policy.
But Minneapolis Fed President Neel Kashkari said early Tuesday that the tight labor market shows the central bank has more to do to bring inflation back under control and sees the fed funds rate going higher than the consensus.
"We need to raise rates aggressively to put a ceiling on inflation, then let monetary policy work its way through the economy," Kashkari told $4.
Here's where US indexes stood as the market opened 9:30 a.m. on Tuesday:
- S&P 500>$4: 4,101.03, down 0.24%
- Dow Jones Industrial Average>$4: 33,745.88, down 0.43% (145.14 points)
- Nasdaq Composite>$4: 11,885.72, down 0.01%
Here's what else is going on:
- US recession odds have $4 thanks to a surge in jobs, according to Goldman Sachs.
- The $4 carrying Russian oil is growing.
- Baidu stock jumped 15% after the Chinese internet giant said it's $4.
- President Joe Biden will call for a tax on $4 in his State of the Union speech.
- Adani said it will $4 in a bid to halt stock-market rout.
- Bed Bath & Beyond surged 120% before plunging after the retailer announced a $4
In commodities, bonds, and crypto: