gamer95
2021-12-16
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Dow industrials pop up and stock market tries to clamber higher, even as Fed projections point to 3 rate hikes in 2022
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Fed Chairman Jerome Powell will host a news conference at 2:30 p.m. ET to discuss the central bank's updated policy. </p>\n<p>The move to end the stimulus program sooner than officials planned at their meeting last month offers the most concrete sign of how Powell's focus has shifted toward preventing higher inflation from becoming entrenched. </p>\n<p>But the updated policy comes as the omicron variant of the coronavirus that causes COVID-19 spreads, sparking fresh concerns about economic recovery and supply-chain bottlenecks that have helped underpin rising inflation. </p>\n<p>The Dow Jones Industrial Average popped into positive territory, up 0.3% at 35,645, the S&P 500 index climbed 0.3% to 4,650, and the Nasdaq Composite Index briefly climbed to less than 0.1% higher at 15,269. 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Fed Chairman Jerome Powell will host a news conference at 2:30 p.m. ET to discuss the central bank's updated policy. </p>\n<p>The move to end the stimulus program sooner than officials planned at their meeting last month offers the most concrete sign of how Powell's focus has shifted toward preventing higher inflation from becoming entrenched. </p>\n<p>But the updated policy comes as the omicron variant of the coronavirus that causes COVID-19 spreads, sparking fresh concerns about economic recovery and supply-chain bottlenecks that have helped underpin rising inflation. </p>\n<p>The Dow Jones Industrial Average popped into positive territory, up 0.3% at 35,645, the S&P 500 index climbed 0.3% to 4,650, and the Nasdaq Composite Index briefly climbed to less than 0.1% higher at 15,269. 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