Powell speech today

2023 - 2 - 8

Post cover — Image courtesy of "Barron's"

Fed Chair Jerome Powell Says the 'Disinflationary Process' Has ... (Barron's)

The Fed chair used last month's robust hiring to highlight exactly why the central bank can't ease up in its inflation battle just yet.

Federal Reserve Chair Jerome Powell on Tuesday reiterated that continued interest-rate increases will be appropriate, and that the “disinflationary process” has begun, in his first remarks since - Print Article - Order Reprints

Wall Street gains as investors digest Powell comments (Reuters)

U.S. stocks gained in choppy trading on Tuesday as investors digested comments from Federal Reserve Chair Jerome Powell about how long the fight to tame ...

planemaker confirmed it expects to [cut about 2,000 white-collar jobs](/business/aerospace-defense/boeing-slash-about-2000-white-collar-jobs-finance-hr-seattle-times-2023-02-07/). But all three major averages are in the black for 2023, with the Nasdaq adding over 13%, led by a revival in battered mega-cap growth stocks. Still, analysts expect fourth-quarter earnings to decline 3.1%. Views that rates would stay higher for longer dragged U.S. The company's shares added 3.38% as the company unveiled an integration of ChatGPT, a chatbot from OpenAI, into its products. [(.DJI)](https://www.reuters.com/quote/.DJI) rose 63.77 points, or 0.19%, to 33,954.79, the S&P 500 [(.SPX)](https://www.reuters.com/quote/.SPX) gained 23.72 points, or 0.58%, to 4,134.8 and the Nasdaq Composite [(.IXIC)](https://www.reuters.com/quote/.IXIC) added 105.46 points, or 0.89%, to 11,992.91. [strong jobs report](/world/us/us-job-growth-accelerates-january-wage-gains-moderate-2023-02-03/) last week stymied rising hopes of less aggressive monetary policy. economy added jobs at a rapid pace in January. [(.IXIC)](https://www.reuters.com/quote/.IXIC) and the S&P 500 [(.SPX)](https://www.reuters.com/quote/.SPX) was Microsoft Corp [(MSFT.O)](https://www.reuters.com/companies/MSFT.O). [(.DJI)](https://www.reuters.com/quote/.DJI), Boeing Inc [(BA.N)](https://www.reuters.com/companies/BA.N) climbed 2.82% after the U.S. [(BBBY.O)](https://www.reuters.com/companies/BBBY.O) plunged 45.73% as the home-goods retailer seeks a $1 billion raise in a last-ditch effort to avoid bankruptcy. [(.SPLRCT)](https://www.reuters.com/quote/.SPLRCT) was among top gainers, up 1.61%.

S&P 500 ticks higher Tuesday after Fed Chair Powell says inflation ... (CNBC)

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.

Stock Market Today: Dow, Nasdaq Edge Higher After Remarks By ... (The Wall Street Journal)

The Wall Street Journal's full markets coverage. Feb 7, 2023 at 2:57 pm ET. Share. Open ...

interest rates after last week's surprisingly strong jobs report.\n\nHere are some of Powell's key comments from his talk Tuesday at the Economic Club of Washington:\n\n“It kind of shows you why we think this will be a process that takes a significant period of time,” Mr. Stocks wavered Tuesday after remarks by Federal Reserve Chair Jerome Powell indicated no notable change from the central bank's messaging earlier this month.\n\nInvestors had been awaiting Powell's talk for more clues on the path of U.S. It’s probably going to be bumpy.”\n“We think we’re going to have to do further \\[rate\\] increases, and we think we’ll have to hold policy at a restrictive level for some time," he said.\n\nRead more about Powell's remarks here.

Fed Chair Powell: Inflation fight will take 'a significant period of time' (CNN)

The US labor market remains "extraordinarily strong" and Friday's monster jobs report underscored that the central bank has more work to do to bring down ...

“We all want to get back to that place.” It will take “not just this year but next year to get down to 2%,” the central bank’s inflation target, Powell said. The demand exceeds the supply by 5 million people, and the labor force participation rate has declined, he said. While economists said the January job total was heavily influenced by seasonal factors and will probably be adjusted downward, it was probably too hot for the Fed’s liking. “We didn’t expect it to be this strong,” Powell said of the January jobs report, which showed the US economy added 517,000 jobs. The Fed expects “significant” declines in inflation to occur this year.

Stock Market News Today: Indices Turn Volatile after Powell Speech (TipRanks)

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.