LPL Financial's Ryan Detrick: 3 Reasons for Stock Market Optimism
Stock Market Today: Safety-Seeking Investors Drive Stocks Higher
Investors piled into bonds and yield-bearing sectors such as utility stocks and consumer staples Thursday as the economy's fate continues to be shrouded in uncertainty.
Defensive stocks and the Nasdaq were in rare alignment, leading the way Thursday as much of Wall Street watched Federal Reserve Chair Jerome Powell continue his economic tightrope walk.
A day after telling the Senate Banking Committee that a recession is "certainly a possibility," Powell told the House Financial Services Committee that "I don't think that a recession is inevitable" – but again stressed the importance of pushing inflation down to 2%.
"With Chairman Powell finally acknowledging that while a soft landing is possible, the Fed's commitment towards curtailing inflation might lead the economy into a recession, …
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