Wall Street opened lower ahead of Powell’s speech by Investing.com

Wall Street opened lower ahead of Powell’s speech by Investing.com

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| Investing.com News |

U.S. stock markets opened lower on Tuesday for the third day in a row as investors awaited word from Fed Chairman Jerome Powell, who will address the Economic Club of Washington later today for information on the central bank’s next steps.

As of 4:50 p.m., the index is down 0.3%, the index is down 0.2% and the Nasdaq is losing 0.1%.

The strong release late last week gave investors reason to believe the Fed would continue to raise interest rates to curb the , while some investors were looking for signs that the Fed might pause its rate hikes or even switch to an easier monetary policy and lower rates.

Last week, with the Fed at a quarter of a percentage point, Powell said the job on inflation was not done yet. Other senior Fed officials also repeated the message in various speeches this week.

The prospect of the Fed coming close to ending monetary tightening has ignited a fire in the growth stock sector since the start of the year, with the Nasdaq technology index up 13% so far this year despite slowing growth in the sector.

The report season in the US is coming to an end when on Wednesday the reports of Uber (NYSE:), Under Armor (NYSE:) are expected to be published and after the trade Walt Disney (NYSE:) and Robinhood will report, on Thursday the reports of PepsiCo (NASDAQ:) and PayPal (NASDAQ:) will be published. and on Friday – Honda.

The Israeli companies whose shares are traded on Wall Street are also starting to publish quarterly reports this week. On Wednesday, Teva (TASE:) sunk before the opening, and on the same day J. Frog (NASDAQ:), Ferion (TASE:), Radcom and Redware. CyberArk will report Thursday before the open, and Biond Air (NASDAQ: ) will also report after the close that day.

Bed & Beyond (NASDAQ: ) shares plunged 38.9% on Tuesday after the struggling home goods retailer announced a $1 billion stock offering to shore up its cash position.

Royal Caribbean (NYSE:) shares jumped 5.3% after reporting that the number of new orders in the quarter exceeded pre-pandemic levels, and also that its loss in

The Chinese company Beidou (NASDAQ:) joined the artificial intelligence panic and announced the imminent launch of its corresponding bot – Ernie Bot which will compete with ChatGPT which was acquired by Microsoft (NASDAQ:) and Bard, the bot. The company’s stock reacts with a jump of 9%

Among the Israeli stocks traded in New York, Audiocodes (NASDAQ:) stands out at the opening of trading, falling 9.8% after the publication of the quarterly reports in which the analysts’ expectations were met both in the revenue line and in the profit line.

Declines are also recorded in the shares of Check Cap (NASDAQ: ), which weakens 6.2%, Celebrity (NASDAQ: ), loses 3.8% and Preytos (NASDAQ: ), which began trading on Nasdaq at the end of January after a merger with Spak, is down 6.1%.

On the other hand, Purple Biotech (NASDAQ: ) rises 5.5%, Ormed (NASDAQ: ) adds 3.3% and Autonomo (NASDAQ: ) climbs 3.2%.


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