US stocks slip with dovish Fed hints in focus

Economies.com
2020-09-24 14:35PM UTC

US stock indices fell on Thursday, amid focus on the Federal Reserve Chairman Jerome Powell's statements before Congress, in addition to other FOMC members.

 

The initial US unemployment claims rose to 870,000 last week, but still worse than forecasts of a drop to 845,00, .vs the previous reading of 866,000.

 

Federal Reserve Chair Jerome Powell will testify before the US Senate Banking Committee about the efforts to support the economy in recovering from the coronavirus pandemic.

 

Bearing in mind that several Federal Reserve members hinted that the pandemic will have further economic impact.

As for stocks, Dow Jones fell 0.1% or 51 points to 26,711 as of 15:32 GMT, Nasdaq dropped 0.2% or 26 points to 10,606, and S&P 500 fell 0.2% or 6 points to 3,230. 

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