The Dow and S&P 500 posted modest gains and the Nasdaq closed just slightly above the flat line after a choppy trading session, as investors shrugged off hawkish comments from Federal Reserve officials about interest rate hikes
that, with little evidence price pressures are waning, the Fed may need to deliver another 75-basis point rate hike as it seeks to get inflation under control.the Fed needs to keep raising interest rates given that its tightening so far "had only limited effects on observed inflation."
With Collins and then Bullard "we have had some very hawkish talk, but the market has really taken it in stride," said Keith Lerner, co-chief investment officer at Trust Advisory Services. "It hasn’t hit the market to the downside like it has in the past."
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S&P 500 ends higher, led by defensive sharesWall Street's benchmark S&P 500 index ended higher on Friday in a choppy trading session, as gains in defensive shares overshadowed energy declines, and investors shrugged off hawkish comments from Federal Reserve officials about interest rate hikes.
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