Markets sought direction on Tuesday as investors digested the news that the new Fed Chair will be the same as the old Fed chair.
Treasury yields spiked amid the renomination of Jerome Powell for the Chairman of the Federal Reserve as investors considered the likelihood that the Fed might (eventually) raise rates. Tech stocks were most under pressure. Tech valuations rely heavily on future profits…and, high interest rates discount those profits, while low interest rates often inflate them. Level Chg. Chg. % S&P 500 Futures 4,677.00 -2 -0.04% Nasdaq Futures 16,337.25 -33 -0.20% U.S. Dollar and Treasuries
The yield on […]
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