NEW YORK — Stocks fluctuated in earlymorning trading on Wall Street Wednesday ahead of a speech by Jerome Powell, the chair of the Federal Reserve, on the outlook for the economy and inflation.
The S&P 500 fell 0.2% as of 10: 14 a.m. Eastern. The Dow Jones Industrial Average fell 167 points, or 0.5%, to 33,685 and the Nasdaq increased 0.3%.
Major indexes haveactually been unstable as the economy and monetary markets offer with stubbornly hot inflation and the Fed’s effort to cool high rates with aggressive interest rate boosts. Still, the criteria S&P 500 and the Dow are sturdily on track to close out November in the green, which would mark their 2nd straight month-to-month gain.
Treasury yields got ground. The yield on the 10-year Treasury, which affects homemortgage rates, increased to 3.79% from 3.75% late Tue