Highlights
Equities improved Tuesday with megacaps and growth stocks providing support, with a boost from lower bond yields.
The Dow Jones industrial average firmed 0.2 percent, the S&P 500 gained 0.3 percent, and the Nasdaq rose 0.9 percent. US Treasury yields, the dollar, and oil prices all declined.
On a busy day of comments from Federal Reserve officials, investors evidently focused on the more dovish remarks, including Dallas Fed President Lorie Logan's comment that the labor market pressure has diminished. Minneapolis Fed President Neel Kashkari, on the other hand, stressed that it is too soon for the Fed to declare victory on inflation.
Sectors were mixed with consumer discretionary, information technology, and communications services outperforming while energy, materials, real estate, and industrials lagged. Energy was the day's featured loser due to falling oil prices.
The Dow Jones industrial average firmed 0.2 percent, the S&P 500 gained 0.3 percent, and the Nasdaq rose 0.9 percent. US Treasury yields, the dollar, and oil prices all declined.
On a busy day of comments from Federal Reserve officials, investors evidently focused on the more dovish remarks, including Dallas Fed President Lorie Logan's comment that the labor market pressure has diminished. Minneapolis Fed President Neel Kashkari, on the other hand, stressed that it is too soon for the Fed to declare victory on inflation.
Sectors were mixed with consumer discretionary, information technology, and communications services outperforming while energy, materials, real estate, and industrials lagged. Energy was the day's featured loser due to falling oil prices.
Definition
Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.
Description
Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.
