- June 24, 2021
- Posted by: Stratford Team
- Category: Business
Commonwealth Financial Network CIO Brad McMillan discusses Federal Reserve Chairman Jerome Powell’s statement that inflation is temporary and his outlook for the markets.
U.S. equity markets ended little changed Wednesday amid a quiet session as investors continued to assess the Federal Reserve’s views on inflation.
The Dow Jones Industrial Average fell 71 points, or 0.2%, while the S&P 500 slipped 0.11% and Nasdaq Composite rose 0.13% to the second consecutive record close.
Ticker Security Last Change Change %I:DJI DOW JONES AVERAGES 33874.24 -71.34 -0.21%SP500 S&P 500 4241.84 -4.60 -0.11%I:COMP NASDAQ COMPOSITE INDEX 14271.7325 +18.46 +0.13%
The choppy trade comes a day after Fed Chairman Jerome Powell reiterated his belief that the recent uptick in inflation is transitory.
POWELL SAYS FED WILL WAIT FOR ‘ACTUAL INFLATION’ BEFORE RAISING INTEREST RATES
In stocks, Microsoft Corp. shares were in focus as the tech stalwart closes in on a $2…