On Tuesday, the major averages rose as investors evaluated recent comments from Federal Reserve chief Jerome Powell on interest rates and inflation.
U.S. stock futures were little changed in overnight trading on Tuesday as investors continue to digest revelations from the Federal Reserve on inflation and interest rates. Dow futures rose just 30 points. S&P 500 futures advanced 0.1% and Nasdaq 100 futures were flat. On Tuesday, the major averages rose as investors evaluated recent comments from Federal Reserve chief Jerome Powell. Last week, the Fed raised interest rates for the first time since 2018 and forecast a plan to hike rates by a quarter point at each of the remaining six meetings of 2022. But then Powell appeared to up the rhetoric even more on Monday, when he promised to take tough action on inflation.
