Powell speech

Investors reacted to Federal Reserve Chair Jerome Powell's comments on inflation and interest rate hikes.

[$12.8 billion](https://www.cnbc.com/2022/02/08/bp-earnings-q4-2021.html) for the previous year. jobs report raising the prospects of the Federal Reserve [continuing its interest rate hikes](https://www.cnbc.com/2023/02/01/fed-rate-decision-february-2023-quarter-point-hike.html) to fight ongoing inflation. [Skyworks Solutions](https://www.cnbc.com/quotes/SWKS/) — The semiconductor stock gained about 3% in extended trading after announcing a $2 billion share buyback program. [Chegg](https://www.cnbc.com/quotes/CHGG/) — Chegg shares sank 21% in extended trading after sharing weaker-than-expected first-quarter and full-year revenue guidance, according to Refinitiv. [S&P 500,](/quotes/.SPX/) which is the low from Monday and also the 8-day moving average. [Chegg](https://www.cnbc.com/quotes/CHGG/)– Chegg's shares [dropped](https://www.cnbc.com/2023/02/07/stocks-making-the-biggest-moves-premarket-chegg-baidu-bed-bath-beyond-hertz-and-more.html)more than 19% after sharing revenue guidance for the full year and first quarter that fell short of analyst expectations. [Baidu](/quotes/BIDU/)— Shares surged more than 13% after Baidu said it would [launch its own artificial intelligence chatbot](https://www.cnbc.com/2023/02/07/baidu-shares-leaps-as-it-reveals-plan-for-chatgpt-style-ernie-bot.html)that will be called "Ernie Bot" in English. [conversation at The Economic Club of Washington, D.C](https://www.cnbc.com/2023/02/07/fed-chief-powell-says-the-the-disinflationary-process-has-begun-but-has-a-long-way-to-go.html). Read more [here](https://www.cnbc.com/2023/02/07/zoom-to-lay-off-1300-employees-or-about-15percent-of-its-workforce.html). And financial technology company [Fiserv](/quotes/FISV/) notched a high the stock hasn't traded at since September 2021. [TransDigm Group](/quotes/TDG/), an aerospace and defense company that went public in 2006, is at an all-time high. [Oak Street Health](https://www.cnbc.com/quotes/OSH/)— Shares surged more than 30% after the Wall Street Journal reported [CVS Health](https://www.cnbc.com/quotes/CVS/)was close to an agreement to buy the primary-care provider for $10.5 billion.

Last updated: 1:45PM EST Stocks turned negative after briefly surging following the widely anticipated speech from Jerome Powell. Investors appeared to be ...

[CMG](https://www.tipranks.com/stocks/cmg/forecast)), Royal Caribbean ( [NYSE:RCL](https://www.tipranks.com/stocks/rcl/earnings)), The Walt Disney Co. On the other hand, Chegg ( [NYSE:CHGG](https://www.tipranks.com/stocks/chgg/forecast)) posted better-than-expected results, but its [weak outlook made it plunge](https://www.tipranks.com/news/chgg-crumbles-as-forecast-falls-flat) in post-market trading as well. Indian indices remained volatile as investors await the 25-basis point interest rate hike tomorrow by the Reserve Bank of India (RBI). Meanwhile, the Hang Seng Tech Index gained 1.40%, boosted by Chinese tech giant Baidu’s ( Initial Jobless Claims on February 9, and the University of Michigan Preliminary Consumer Sentiment Index on February 10. While the futures on the NDX and SPX were up 0.3% and 0.1% respectively, the futures on the DJIA were down 0.2%. The hawkish tone of Powell’s comments will direct the market’s momentum in the days to follow. EST, the Nasdaq 100 ( Nevertheless, the bears made a comeback before retreating again to make way for the bulls. Nevertheless, inflation continues to be a problem around the world. Census Bureau, the Institute for Supply Management, the U.S. The Atlanta Federal Reserve updated its latest GDPNow reading, which allows it to estimate GDP growth in real time.

The Dow Jones fell Tuesday ahead of Fed Chair Jerome Powell's interview. BBBY shares crashed 47% on an equity offering.

[LSCC](https://research.investors.com/quote.aspx?symbol=LSCC)) [NXST](https://research.investors.com/quote.aspx?symbol=NXST)) [ETSY](https://research.investors.com/quote.aspx?symbol=ETSY)) [JPM](https://research.investors.com/quote.aspx?symbol=JPM)) [WING](https://research.investors.com/quote.aspx?symbol=WING)) [Etsy](https://www.investors.com/research/ibd-stock-of-the-day/etsy-stock-emerges-from-a-difficult-time/) was a recent [IBD Stock Of The Day](https://www.investors.com/category/research/ibd-stock-of-the-day/). [4 Top Growth Stocks To Buy And Watch In The Stock Market Rally](https://www.investors.com/stock-lists/stocks-near-a-buy-zone/warren-buffett-berkshire-hathaway-etsy-impinj-wingstop-in-or-near-buy-zones/) [Five Dow Jones Stocks To Buy And Watch Now](https://www.investors.com/research/dow-jones-stocks/) [Tesla stock](https://www.investors.com/news/technology/tesla-stock-is-it-a-buy-now/) climbed another 2.5% Monday, extending a win streak to five sessions and closing at its highest level since Dec. [LSCC stock](https://research.investors.com/stock-checkup/nasdaq-lattice-semiconductor-lscc.aspx) shows a strong 98 out of a perfect [IBD Composite Rating.](https://www.investors.com/how-to-invest/investors-corner/stocks-to-buy-and-watch-ibd-composite-rating-top-growth-stocks/) Lattice shares were up 0.6% Tuesday. [TSLA](https://research.investors.com/quote.aspx?symbol=TSLA)) fell 0.8% Tuesday morning, while Dow Jones tech giants Apple ( [AAPL](https://research.investors.com/quote.aspx?symbol=AAPL)) and Microsoft ( [MSFT](https://research.investors.com/quote.aspx?symbol=MSFT)) were higher after [today's stock market](https://www.investors.com/market-trend/stock-market-today/stock-market-today-market-trends-best-stocks-buy-watch/) open. [Monday's The Big Picture column](https://www.investors.com/market-trend/the-big-picture/after-5-week-nasdaq-run-stock-market-pauses-this-is-next-potential-hurdle/) commented, "The January rally took many by surprise as the Nasdaq and other indexes smashed resistance levels. [Take-Two missed](https://www.investors.com/news/technology/ttwo-stock-take-two-misses-holiday-quarter-targets/) Wall Street's targets for the December quarter, citing weaker consumer spending. On Monday, BBBY shares [vaulted more than 92%.](https://www.investors.com/research/meme-stock-amc-plans-debt-for-stock-swap-reverse-stock-split-shares-dive/) [BP jumped 4%](https://www.investors.com/news/bp-stock-lagging-exxon-blames-renewables-with-earnings-due/), while Transdigm shares rallied 2.2% in morning trade. Investors will look for hints of future Fed hikes in the wake of [Friday's blowout jobs report.](https://www.investors.com/news/economy/jobs-report-hiring-surges-as-jobless-rate-falls-sp-500-futures-lower/)

U.S. stocks closed out a volatile session sharply higher Tuesday after Federal Reserve Chair Jerome Powell embraced the presence of disinflation in the ...

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WASHINGTON — Jerome H. Powell, the chair of the Federal Reserve, underscored that the central bank has more work to do when it comes to slowing the economy ...

[a couple of more](https://www.nytimes.com/2023/02/01/business/federal-reserve-interest-rates.html) rate increases and could do more if needed. He said that in the wake of the jobs report, financial conditions were “more well aligned” with that view than they had been previously. The central bank is supposed to foster both full employment and stable inflation, and policymakers have been concerned that the strength of today’s job market could make it harder for them to return wage and price increases to historically normal levels. “The base case for me is that it will take some time, and we’ll have to do more rate increases, and then we’ll have to look around and see whether we’ve done enough.” It is typically expressed as the annual change in prices for everyday goods and services such as food, furniture, apparel, transportation and toys. And he embraced how markets have adjusted in the wake of the strong hiring numbers: Investors had previously expected the Fed to stop adjusting policy very soon, but now see rate increases in both March and May. And as consumers earn more, they may be able to keep spending despite climbing prices. He also underlined that the central bank would leave interest rates high for some time. This includes participating in marches or rallies in support of a movement or giving money to, or raising money for, any political candidate or election cause. That in turn tempers hiring and wage growth, with further cools the economy. “There has been an expectation that it will go away quickly and painlessly — and I don’t think that’s at all guaranteed; that’s not the base case,” Mr. For the Fed, that strength could prolong its fight against inflation.

U.S. stocks rallied on Fed Chair Jerome Powell's speech, despite Powell sounding hawkish tones. The game of chicken between the Fed and markets continues.

Asia-Pacific shares [traded Wednesday mixed](https://www.cnbc.com/2023/02/07/asia-markets-reserve-bank-australia.html), with South Korea's Kospi leading gains. Separately, Minneapolis Fed President Neel Kashkari said the central bank [has not made enough progress on inflation](https://www.cnbc.com/2023/02/07/feds-neel-kashkari-says-central-bank-has-not-made-enough-progress-keeping-his-rate-outlook.html). "If we continue to get, for example, strong labor market reports or higher inflation reports, it may well be the case that we have do more and raise rates more than is priced in," Powell said. The game of chicken continues. That's what happened last week after Powell's press conference, when markets focused on his acknowledgement that a "disinflationary process has started." He unambiguously did so — and even suggested that rates might have to be increased beyond the currently target of 5% to 5.25%. Markets dropped the previous day on January's jobs report; they expected Powell to reassert the importance of interest rate hikes on the back of such a strong labor market. The game of chicken between the Fed and markets continues. [further interest rate increases](https://www.cnbc.com/2023/02/07/fed-chief-powell-says-the-the-disinflationary-process-has-begun-but-has-a-long-way-to-go.html)are still likely. stocks rallied on Fed Chair Jerome Powell's speech, despite Powell sounding hawkish tones. You can subscribe Like what you see?