The close: TSX gains, S&P 500 ends off lows, as Powell says Fed still a ways away from rate hikes [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
The close: TSX gains, S&P 500 ends off lows, as Powell says Fed still a ways away from rate hikes The S&P 500 ended little changed on Wednesday, and the TSX posted modest gains, after Federal Reserve Chair Jerome Powell said the central bank was still a ways away from considering raising interest rates. Keeping the market in check, shares of tech giant Apple Inc fell 1.2% after it forecast slowing revenue growth. In a news conference following the release of a new policy statement from the Fed, Powell also said the U.S. job market still had “some ground to cover” before it would be time to pull back from the economic support the U.S. central bank put in place in the spring of 2020 to battle the coronavirus pandemic’s economic shocks. “It looks like probably the most positive thing for the market was that they are nowhere near increasing interest rates,” said Alan Lancz, president, Alan B. Lancz & Associates Inc, an investment advisory firm based in Toledo, Ohio. The S&P 500 index reve
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