Fed Chairman Defends Gradual Interest-Rate Hikes - Adviser Investments

Fed Chairman Defends Gradual Interest-Rate Hikes

Todd Peters, senior vice president at Adviser Investments, has the market analysis for Friday, August 24. Federal Reserve Chairman Jerome Powell dominated headlines with his remarks in defense of a continued gradual interest-rate rise. We also saw the U.S. Commerce Department’s durable goods report, which revealed a 1.7% decline for July—largely the result of fewer aircraft orders. The longer-term trend remains positive with overall durable goods orders up 8% year-over-year for the first seven months of 2018. On the earnings front, Foot Locker beat both sales and earnings expectations, but fell about 10% intra-day on disappointing same-store sales growth of just 0.5%.

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