Powell’s press conference, Federal Reserve meeting: LIVE Updates
U.S. stocks are hovering at record highs
What do markets think of new Fed decision?
Kaltbaum Capital Management President Gary Kaltbaum and Ladenburg Thalmann Asset Management CEO Phil Blancato weigh in on the latest Federal Reserve decision, today’s markets, earnings season and economic trends.
The Federal Reserve maintained ultra-low interest rates and reaffirmed its commitment to other easy monetary policies as the U.S. economy faces down a pair of new threats: surging inflation and rising COVID-19 infections that prompted the CDC to reinstate a select mask mandate.
U.S. stocks ended the session with the Dow Jones Industrial Average falling below the 35,000 level while the S&P 500 ended little changed. The Nasdaq Composite rose helped in part by strong tech results from the likes of Google which hit a fresh record.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 43870.35 | +461.88 | +1.06% |
| SP500 | S&P 500 | 5948.71 | +31.60 | +0.53% |
| I:COMP | NASDAQ COMPOSITE INDEX | 18972.420086 | +6.28 | +0.03% |
Chairman Jerome Powell's press conference tackled the emerging COVID-19 Delta variant, inflationary trends, and the ongoing debate about the timing of tapering.
FOX Business' LIVE Blog below, monitored the developments and market reaction. Mobile users click here.
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