XLV - Traders Hold Breath For Powell's Remarks Bitcoin's Wild Ride Unleashed: What's Driving Markets Thursday? | Benzinga
The stock markets is in a lackluster session on Thursday, with traders eagerly awaiting more clues on monetary policy from Fed Chair Jerome Powell, who is set to deliver live remarks at 2 p.m. in Washington.
In other Fed commentary, Richmond Fed President Thomas Barkin emphasized the need for an economic slowdown to complete the disinflation process and reach the 2% target.
Bitcoin (CRYPTO: BTC) experienced a rollercoaster ride, surging as much as 6.5% at 10 a.m. only to nearly erase its gains by noon trading in New York.
Jitters returned to the Treasury market, with yields surging significantly on the long end of the curve. The 30-year yield increased by 11 basis points to 4.73%, while the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) declined by 1.5%.
The S&P 500 is on a eight-day winning streak, while the Nasdaq 100 has risen in each of the last nine sessions.
Cues From Thursday’s Trading:
The S&P 500 hovered around flat trading, while blue-chip stocks in the Dow Jones were a tad lower.
The tech-heavy Nasdaq 100 inched 0.1% higher, while small caps fell 0.2%
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