Stocks mixed as Biden taps Fed’s Powell for second term
The Dow Jones Industrial Average tacked on over 17 points or 0.05% while the S&P 500 and Nasdaq Composite slipped 0.32% and 1.26%, respectively after touching fresh record highs early on in the session.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 35619.25 | +17.27 | +0.05% |
| SP500 | S&P 500 | 4682.94 | -15.02 | -0.32% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15854.757354 | -202.68 | -1.26% |
Large-cap tech stocks weighed on the Nasdaq including Amazon, Microsoft, and Google, while Apple maintained modest gains.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM, INC. | 3,572.57 | -104.00 | -2.83% |
| GOOGL | ALPHABET, INC. | 2,926.04 | -52.49 | -1.76% |
| MSFT | MICROSOFT CORP. | 339.83 | -3.28 | -0.96% |
| AAPL | APPLE, INC. | 161.02 | +0.47 | +0.29% |
With Powell at the helm for a second term, Biden also tapped Fed governor Lael Brainard as vice-chair. Investors took their nominations in stride as their prior working experience will likely represent continuity with monetary policy amid an ongoing effort to tackle inflation.
Read More: https://www.foxbusiness.com/markets/stocks-rise-as-thanksgiving-week-kicks-off
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