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Live Stock News: Powell Said no Time Like the Present to do Nothing
Happy Tuesday, investors. It's February 11th. The market held back while the Federal Reserve presented to the Senate in its twice-yearly monetary policy meeting. What did Chief Powel say, and how will it affect markets? Before we find out, let's look at Live Stock News.
$Fidelity National Information Services (FIS.US)$ shares fell more than 17% after reporting low guidance for the coming second quarter. It was the lowest percentage decliner on the S&P 500.
$Intel (INTC.US)$ climbed 10% after a Monday TechCrunch report that $Lyft Inc (LYFT.US)$ was launching self-driving car prototypes in 2026 through its recently purchased subsidiary, Mobileye. Vice President JD Vance also spoke in support of U.S. chip manufacturing on Tuesday.
$Super Micro Computer (SMCI.US)$ shares fell as the firm is set to update investors with its second quarter "business update" Tuesday after the closing bell.
$Coca-Cola (KO.US)$ shares climbed 3% after posting earnings $Marriott International (MAR.US)$ fell 5% after reporting the firm reported a decline in profit in the fourth quarter.
Elsewhere in the economy, $Crude Oil Futures(MAY5) (CLmain.US)$ climbed to $73/barrel. Gold hit all-time highs before falling back, and treasuries climbed. $Bitcoin (BTC.CC)$ was at $96,000.
Overall, the market was holding back. Just past 12:20 pm ET the $S&P 500 Index (.SPX.US)$ traded -0.09% the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.08%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.35%.
In macro news, Powell told the Senate that the economy is doing so well and that rate cuts may not be coming soon. Because the economy is doing well, the Fed can take its time to decide when and whether to lower interest rates. He said that the FOMC was in no hurry to adjust rates, after cutting a full 1% in the final months of 2024.
Users seemed agitated at the news, and one said that 3% inflation feels like the news Fed target.
Traders, what do you think? What are you watching on the stock market today? What is the herd following? Let me know in the comments below! $S&P 500 (LIST91326.US)$
Want to keep up to date with the market and all its feelings-driven swings, all in under three minutes? Click here to follow the Live Stock Podcast topic. Comment below or in the hot topic for a chance to appear on the podcast! I want to talk about what you are investing in!
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
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