Overview
Today, the U.S. stock market closed lower. Initially, rising bond yields driven by concerns over the Iran conflict were reversed as Chairman Powell alleviated inflation concerns with his speech, hinting at potential rate cuts this year.
| Nasdaq Composite(QQQ) | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
A Major News Story
Chairman Powell, at a Harvard University event, reassured the market about long-term inflation expectations being well-anchored and downplayed the immediate need for action regarding the Iran conflict. Despite this calming tone, tensions escalated with reports of U.S. military movements in the Middle East and possible military operations to seize Iran's uranium, impacting market sentiment. Consequently, although most major sectors rose, the semiconductor sector stumbled, leading to a 0.4% decline in the S&P 500.
Tomorrow's Economic Indicators
| Release Time | Event Description |
|---|---|
| 22:00 | U.S. January Home Price Index Release |
| 22:45 | U.S. March Chicago PMI |
| 23:00 | U.S. March Conference Board Consumer Confidence Index |
| 23:00 | U.S. February JOLTS Job Openings |
| Anytime | Speech by Fed's Christopher Waller |
| Anytime | Speech by Fed Vice Chair |
| 10 minutes | Speech by Fed's Bowman |
General Opinion
The market remains highly volatile amidst conflicting messages from the Trump administration and Powell's calming statements. Investors are particularly focused on the prolonged tension between the U.S. and Iran. Given these conditions, market participants must brace for persistent volatility.
