February 7, 2023

Dow, S&P 500 open lower ahead of Powell comments

(Reuters) – The Dow and the S&P 500 opened lower on Tuesday as investors await Federal Reserve Chair Jerome Powell’s remarks for further clues on how long the U.S. central bank will keep interest rates higher.

FILE PHOTO: U.S. Federal Reserve Chair Powell holds news conference after Fed announced quarter point interest rate hike in Washington

© Thomson Reuters
FILE PHOTO: U.S. Federal Reserve Chair Powell holds news conference after Fed announced quarter point interest rate hike in Washington

The Dow Jones Industrial Average fell 121.24 points, or 0.36%, at the open to 33,769.78. The S&P 500 opened lower by 5.73 points, or 0.14%, at 4,105.35, while the Nasdaq Composite gained 3.80 points, or 0.03%, to 11,891.25 at the opening bell.

(Reporting by Johann M Cherian in Bengaluru; Editing by Shounak Dasgupta)

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