Market Waves Amid Ceasefire and Economy Shifts
Wall Street experienced mixed results amid ongoing Israel-Iran ceasefire, with major indices fluctuating. Tech shares boosted Nasdaq, while the Dow dipped. Fed Chair Powell reiterated rate policy during congressional testimony, while the market reacted to economic data and corporate forecasts, revealing investor concerns over tariffs and interest rates.
Wall Street experienced a mixed day as investors reacted to the fragile Israel-Iran ceasefire and a second day of testimony from Federal Reserve Chair Jerome Powell. The tech sector provided a slight lift to the Nasdaq, while the S&P 500 dropped marginally but remained near record highs.
The Dow Jones Industrial Average slipped into negative territory amid broader market fluctuations. Notably, Powell assured the Senate Banking Committee that the Fed is prepared to remain patient on interest rate cuts, contingent on further insights into tariff impacts on inflation.
As market participants speculated on the timing of potential rate cuts, economic indicators like housing data and corporate earnings forecasts revealed vulnerabilities. The day concluded with defensive sectors like utilities underperforming, while select tech and communication stocks managed gains.
(With inputs from agencies.)
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