Wall Street's main indexes remained largely unchanged on Tuesday, as gains in mega-cap companies like Apple and Coca-Cola offset losses in some growth stocks. Investors were closely monitoring Federal Reserve Chair Jerome Powell's testimony for clues about future interest rate decisions. Powell emphasized the Fed's current stance, stating that there is no immediate need to lower interest rates again due to the strength of the economy.
Wall Street 's main indexes remained nearly flat on Tuesday, as gains in mega-cap companies like Coca-Cola and Apple countered losses in some growth stocks. Investors closely followed Federal Reserve Chair Jerome Powell 's recent statements for clues about the central bank's future monetary policy.
Powell, in his opening remarks at a Senate Banking Committee hearing, asserted that the Fed was in no hurry to lower its short-term interest rate again, citing a 'strong overall' economy characterized by low unemployment and inflation, although it remains above the Fed's 2% target. While Powell's statement didn't explicitly mention tariffs, the unpredictable trade policies of President Trump undoubtedly weigh on policymakers' minds as they consider their next moves, according to Bradley Saunders, North America economist at Capital Economics. Investors are eagerly anticipating any new tariff pronouncements from President Donald Trump, following his substantial increases in levies on steel and aluminum imports. He also indicated plans for reciprocal tariffs against all countries imposing duties on U.S. goods, with announcements expected within the next two days. Powell's testimony before the Senate is the first of a two-day series of hearings on Capitol Hill. On Wednesday, he is scheduled to appear before the House Financial Services Committee. The January Consumer Price Index (CPI) data is set to be released at 8:30 a.m. ET on Wednesday, preceding Powell's appearance before the House committee. Market traders anticipate at least one 25-basis-point rate cut from the Fed this year, with a 44% probability of another reduction of the same magnitude, according to LSEG data. Offsetting some of the declines, Apple (AAPL.O) surged 2.7% following a report about its partnership with Alibaba (9988.HK) to develop and launch artificial intelligence features for iPhone users in China. At 11:21 a.m. ET, the Dow Jones Industrial Average (.DJI) climbed 30.99 points, or 0.07%, to 44,503.06. The S&P 500 (.SPX) edged up 0.36 points, or 0.01%, to 6,066.89, while the Nasdaq Composite (.IXIC) dipped 16.92 points, or 0.09%, to 19,696.93. Among the major S&P sub-sectors, energy stocks (.SPNY) led the gains, adding nearly 1% as crude oil prices held at elevated levels. Phillips 66 (PSX.N) rose 5.3% after activist Elliott Investment Management disclosed a stake exceeding $2.5 billion in the oil refiner. DuPont de Nemours (DD.N) jumped 7.2% after the industrial materials manufacturer raised its 2025 profit forecast, fueled by robust demand for electronics. Coca-Cola (KO.N) advanced 3.3% as the beverage maker surpassed fourth-quarter revenue estimates, supported by higher prices and enduring demand for its sodas and juices. Ecolab (ECL.N), a water technology firm, surged 7.9% following the company's forecast of higher-than-expected adjusted profit for 2025. Conversely, Fidelity National Information Services (FIS.N) dropped 16.8% after the banking and payments processing conglomerate projected first-quarter profit below estimates. Declining issues outnumbered advancing ones by a 1.2-to-1 ratio on the NYSE and by a 1.5-to-1 ratio on the Nasdaq. The S&P 500 recorded 11 new 52-week highs and 15 new lows, while the Nasdaq Composite registered 37 new highs and 163 new lows.
FEDERAL RESERVE TARIFFS WALL STREET STOCK MARKET APPLE COCA-COLA JEROME POWELL
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