![]() ![]() "The market believes the Fed will raise rates one more time, not two more times as implied by the post FOMC meeting summary," Stovall added. Powell, appearing before the Senate Banking Committee for his semi-annual monetary policy testimony reiterated his view that more interest rate hikes are likely in the months ahead, a sentiment echoed by Fed Governor Michelle Bowman earlier in the session. "We don’t have much to trade on, second-quarter earnings don’t start in a couple weeks yet." "Investors are playing tug of war, as if they're pulling petals from a daisy saying 'bull market, not a bull market,'" said Sam Stovall, chief investment strategist of CFRA Research in New York. Industrials (.SPLRCI) and financials (.SPSY) held the blue-chip Dow essentially flat. The tech-heavy Nasdaq's robust gain got a boost from momentum stocks led by (AMZN.O) Apple Inc (AAPL.O), and Microsoft Corp (MSFT.O), while the S&P 500's advance was more modest. ![]() Federal Reserve Chairman Jerome Powell continued to beat a hawkish drum and suggested the central bank has not reached the end of its tightening cycle, but provided reassurance that the Fed would proceed with caution. June 22 (Reuters) - The S&P 500 and the Nasdaq closed higher on Thursday as U.S. Spirit AeroSystems sinks on production halt, weighs on Boeing.Accenture slips after dour quarterly revenue forecast.Bank of England hikes rates by surprise 50 basis points. ![]()
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