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The stock fell again on Monday, with losses widening for the third straight session.
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On Tuesday, U.S. durable goods orders rose for the first time in three months in February.
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Investors are awaiting new PCE data to be released on Friday, along with comments from Jerome Powell.
U.S. stocks fell again on Tuesday, losing momentum late in the day after traders looked to restart a bull market that stalled last Friday.
Investors appear to have taken a breather in the past three days after last week’s record rally in markets following the Federal Reserve’s dovish March meeting, but they have been largely out of business over the past five months. Stock prices are rising with momentum.
Tuesday provided encouraging data for investors, with U.S. durable goods orders increasing for the first time in three months in February. The Conference Board said this showed optimism among businesses, but consumer confidence was also stable.
This week, investors are focused on the latest consumer spending report, due out on Friday. The median forecast for core PCE, the US Federal Reserve’s recommended inflation measure, is for a rise of 2.8%.
Markets are closed for the Easter holiday, but comments from Fed Chairman Jerome Powell will also be posted on Friday, which could provide clues about future monetary policy.
This comes after the last FedSpeak on Monday, in which President Rafael Bostic said he expected one interest rate cut before the end of the year.
In addition to Powell, Federal Reserve President Christopher Waller and San Francisco Fed President Mary Daley are scheduled to speak on Wednesday and Friday.
Among the hot stock moves on Tuesday, Donald Trump’s Truth Social made its market debut, soaring 59% under the DJT ticker.
Here are the U.S. indices as of Tuesday’s close at 4 p.m.
Here’s what else is happening today:
In Commodities, Fixed Income and Cryptocurrencies:
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Oil prices have fallen. West Texas Intermediate crude oil fell 0.6% to $81.47 a barrel. The international benchmark Brent crude oil fell 0.8% to $86.02 per barrel.
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Gold rose 0.2% to $2,176.61 an ounce.
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The 10-year government bond fell 2 basis points to 4.23%.
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Bitcoin fell 0.29% to $69,848.
Read the original article on Business Insider
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