The Latest Breaking News from Jerome Powell

June S&P 500 E-Mini futures (ESM24) are up +0.30%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.43% this morning as investor attention turned to crucial U.S. jobs data due Friday after Fed Chair Jerome Powell reiterated that the central bank will likely reduce rates this year.

An equities rally that started at the back end of 2023 has stuttered in recent weeks after a string of reports suggested the economy was too strong and prices too sticky for officials to begin easing monetary policy this year.

The US Federal Reserve's high benchmark rate is "doing its job" against elevated inflation, chairman Jerome Powell said Wednesday, warning that lowering it too soon could be "quite disruptive" for the American economy.

Federal Reserve Chair hints at rate cuts in 2023 despite strong economy. Fed remains independent from political influence.

Fed policymakers are sounding more hawkish.

The Dow Jones rose and stayed higher after Fed Chair Powell's speech. Nvidia rose despite an earthquake that affected Taiwan Semiconductor.

Stock Market Today: The Dow Jones reversed higher Wednesday ahead of Fed Chair Powell's speech. Intel dived on a $7 billion foundry loss.

June S&P 500 E-Mini futures (ESM24) are trending down -0.15% this morning as uncertainty over the Federal Reserve’s plans to cut interest rates continued to stifle market sentiment, with investors’ focus now shifting to remarks by Fed Chair Jerome Powell and ADP National Employment numbers due later in the day.

June S&P 500 E-Mini futures (ESM24) are trending down -0.11% this morning as investors looked ahead to remarks by Federal Reserve Chair Jerome Powell and a fresh batch of U.S. economic data.