Wall Street sign at the New York Stock Exchange December 9, 2020 in New York City. — AFP picNEW YORK, March 24 — Wall Street stocks mostly rose early today, shrugging off the prior session’s weakness, ahead of another round of congressional testimony from US economic policymakers.
Federal Reserve Chair Jerome Powell told a House panel yesterday that inflation could tick higher, but that price increases would likely be temporary. Powell was due back at a Senate hearing today, along with Treasury Secretary Janet Yellen, who has consistently argued for aggressive fiscal spending to boost the coronavirus-ravaged US economy.The broad-based S&P 500 climbed 0.5 per cent to 3,929.55, while the tech-rich Nasdaq Composite Index slipped 0.1 per cent to 13,212.68.US durable goods orders fell 1.
Among individual companies, Intel rose 1.4 per cent after announcing it will invest US$20 billion in building two new plants in Arizona as part of a plan to ramp up production in the United States and Europe. — AFP
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