European markets are heading for a higher open Wednesday as investors digested the latest comments from U.S. Federal Reserve Chair Jerome Powell.
Speaking at an event at The Economic Club of Washington, D.C., Powell said Tuesday that inflation is beginning to ease but that he expects the "disinflationary process" to be a long one, and cautioned that interest rates could rise more than markets anticipate if the economic data doesn't cooperate.The major U.S. averages initially jumped during the remarks, before briefly falling into negative territory, and then closing higher.
Sharon Bell, European strategist at the investment bank, said the two value sectors are set to do well as economic growth remains robust. Goldman forecasts global GDP to grow slightly above 2% this year — higher than was forecast by economists just a few months ago.CNBC Pro: Wall Street pros reveal their top defense stocks — and the same names keep coming up
As geopolitical tensions return and defense spending ramps up, the sector is looking attractive, according to Wall Street pros.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock futures are flat as investors await Fed Chair Powell's speechInvestors will listen closely to Federal Reserve Chairman Jerome Powell's speech on Tuesday, searching for clues on what's next for monetary policy.
Read more »
Stock Market New Today: Investors brace for Fed Chair Powell's speechUS stocks slip as investors brace for Fed Chair Jerome Powell's speech
Read more »
EUR/USD bulls struggle around mid-1.0700s, focus on ECB talks, Fed Chair PowellEUR/USD fades the early Asian session recovery by retreating from the daily top. Even so, the major currency pair clings to the first daily gains in f
Read more »
Fed Chair Powell sees 'significant' inflation drop in 2023WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that last week's blockbuster U.S. jobs report showed it would likely take time to curb high inflation but that he expects a “significant decline' in inflation this year.
Read more »
Fed Chair Powell sees ‘significant’ inflation drop in 2023At the same time, Powell said the job market’s strength and the persistence of inflation pressures mean that the Fed will need to keep raising its benchmark interest rate this year.
Read more »
Fed chair Jerome Powell says slowing inflation will likely 'be bumpy'Federal Reserve chair Jerome Powell said that the stronger-than-expected jobs report shows that the process of bringing inflation down won't be smooth and will take 'quite a bit of time.'
Read more »