Wall Street Wavers as Fed Hints At Interest Rate Standstill

The stock market faced uncertainty as doubts emerged over likely Federal Reserve interest rate cuts by September. The S&P 500 and Dow Jones saw slight declines, while Nasdaq inched upward. Investors were particularly attuned to Fed Chair Jerome Powell's comments, which did not assure a future rate cut.

Powell highlighted the balanced job market and persistent inflation as reasons for not making any commitments about September. This came amid President Trump's call for rate deductions and a new 25% tariff on imports from India. Trump's policies further contributed to market tension.

Treasury yields rose, reacting to the Federal Reserve's decision to hold steady on rates. Traders scaled back their bets on a September cut, while Wall Street remained wary of economic signs pointing to potential challenges ahead.

(With inputs from agencies.)