Wall Street Ends Lower After Powell Remarks, As Energy Shares Drag

StreetInsider2022-06-23

Wall Street's main indexes ended with slim losses on Wednesday after choppy trading as energy shares weighed and investors digested Federal Reserve Chair Jerome Powell's comments on the central bank's...

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Comments

  • RW5
    2022-06-23
    RW5
    O
  • LimLS
    2022-06-23
    LimLS
    Powell is going to speak again tonight since it's a 2 day testimony. Based on what he said yesterday, it's apparent that he had hinted again of the economy might go into recession. He acknowledged that rising interest rate could drive the economy into recession but that is not Fed intended outcome. Also mentioned 100bps hike is not off the table. Fed is committed to bringing down inflation. All these means that there will be more pain/decline to come in the months forwards and Fed will not turn around from its aggressive policy of hikes/QT. Guess the market bottom has not come yet. For mid/long term investors, we can wait for a few months until we see the Fed starting to soften it's stance. For short term traders, there will be a lot of opportunities with the current volatile market. Good
  • Leo_T
    2022-06-23
    Leo_T
    Pls like.tks
  • SCLIEW
    2022-06-23
    SCLIEW
    666
  • Minnieee
    2022-06-23
    Minnieee
    Like
  • SteadyDoesIt
    2022-06-23
    SteadyDoesIt
    Heading for a recession
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