S&P 500 pauses after recent gains as investors assess rate path
was broadly unchanged on Wednesday, pausing after a recent rally as investors assessed the outlook for U.S. monetary policy, while Uber fell 1.5% after Reuters reported U.S. prosecutors were examining whether the company committed securities or wire fraud by misleading investors and consumers about its electric vehicles' self-driving capabilities.
"The bigger question becomes what the Fed is going do when the macro data starts to deteriorate and inflation is not back to the target. Do they stick to their guns or do they ride to the rescue and start cutting rates? That's kind of the pickle we're looking at going into the summer months." Investors will monitor comments from Fed speakers - Vice Chair Philip Jefferson, Boston President Susan Collins and Governor Lisa Cook during the day - for fresh clues on the U.S. central bank's policy path.The S&P 500 lost 4.28 points, or 0.08%, to 5,183.46, threatening to break its longest winning streak since March, while the) fell 2.9% after warning of a sales hit from the U.S. revoking some of the chipmaker's export licenses for China.
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