US Equities Markets End Mixed Tuesday as Traders Evaluate Fed Chair Powell's Remarks

MT Newswires Live
02-12

US benchmark equity indexes ended mixed Tuesday after Federal Reserve Chair Jerome Powell reiterated that policymakers don't need to rush to adjust interest rates.

* "With our policy stance now significantly less restrictive than it had been and the economy remaining strong, we do not need to be in a hurry to adjust our policy stance," Powell said in prepared remarks to the Senate Committee on Banking, Housing, and Urban Affairs. "We know that reducing policy restraint too fast or too much could hinder progress on inflation. At the same time, reducing policy restraint too slowly or too little could unduly weaken economic activity and employment."

Powell is scheduled to appear before the House Financial Services Committee Wednesday.

* Government data are expected to show Wednesday that US consumer inflation rose 0.3% sequentially in January following a 0.4% gain the month prior, according to a Bloomberg-compiled consensus. On an annual basis, the US consumer price index is expected to have increased 2.9% last month, unchanged from December's print.

* March West Texas Intermediate crude oil closed up $0.93 to settle at $73.24 per barrel, while April Brent crude, the global benchmark, was last seen up $1.05 to $76.93 as tightened sanctions on exports from Russia and Iran raised supply concerns.

* Fidelity National Information Services (FIS) shares were down 11% after the financial technology company's top-line performance for Q4 and its revenue outlook for fiscal year 2025 disappointed Wall Street's expectations.

* Coca-Cola (KO) logged better-than-expected Q4 results amid volume and pricing gains, while the beverage giant projected annual growth in earnings and organic revenue for 2025. The company's shares increased 4.8%.

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