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T&G Market Recap: Dow Gains, Nasdaq Drops as Powell Testifies and Inflation Data Looms ๐Ÿ“‰๐Ÿ’ฌ

T&G Market Recap: Dow Gains, Nasdaq Drops as Powell Testifies and Inflation Data Looms ๐Ÿ“‰๐Ÿ’ฌ

Mixed market reaction as Jerome Powellโ€™s testimony in Congress and inflation data add caution. ๐Ÿ›๏ธ๐Ÿ“Š

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Ben The Bull
Feb 12, 2025
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T&Gโ€™s Substack
T&Gโ€™s Substack
T&G Market Recap: Dow Gains, Nasdaq Drops as Powell Testifies and Inflation Data Looms ๐Ÿ“‰๐Ÿ’ฌ
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US stocks closed mixed on Tuesday, with investors assessing Federal Reserve Chair Jerome Powellโ€™s testimony and looking ahead to crucial inflation data. The Dow Jones rose slightly by 0.3%, while the Nasdaq Composite dipped 0.4%. The S&P 500 finished just above the flatline, showing investor uncertainty as they prepare for inflation updates and the ongoing tariff news.

Key Highlights of the Day ๐Ÿ“Š:

  • Jerome Powellโ€™s Testimony: The Fed Chair started his two-day testimony, reiterating that the Fed isn't rushing to change interest rates. Powell emphasized the central bankโ€™s focus on data over politics. ๐Ÿ›๏ธ

  • Tariff Fears: Trump's tariff announcements on steel and aluminum imports pressured markets but led to steel stocks rising. ๐Ÿ“‰๐Ÿ”จ

  • Inflation Data: The January CPI report due on Wednesday will be key to understanding inflation pressures and what the Fed may do with interest rates this year. ๐Ÿ”Ž๐Ÿ“…

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