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Stock impact report

Powell revives hopes of a Fed pivot. That's a bad thing [CNN]

LPL Financial Holdings Inc. (LPLA) 
Last lpl financial holdings inc. earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.lpl.com
Company Research Source: CNN
But investors who are expecting a full pivot may be putting the cart before the horse. Powell's admission that “the path ahead for inflation remains highly uncertain” means that rate hikes could be here for a while. What's happening: Investors have been closely watching for any clues that the Fed might slow or pause its painful path of rate hikes, intended to fight persistent inflation. But their search for signs has led to a hopeful distortion of facts: Powell says “moderate” and investors hear “pivot.” “The time for moderating the pace of rate increases may come as soon as the December meeting,” said Powell in remarks at the Brookings Institution, his last public appearance before the central bank enters a blackout period ahead of its December 13-14 policymaking meeting. Investors celebrated. The S&P 500 ended its three-day losing streak and closed up 2.7% on Wednesday. The Dow officially entered a bull market. The 10-year Treasury yield also eased on the news. Market ralli Show less Read more
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