The perceived earnings miss, which has come on the heels of the 31% record-breaking surge in the stock price from its 2023 lows in March, could dampen investor sentiment in the absence of near-term positive triggers, said analysts.
Fed’s Jefferson urges patience on rates; Kashkari sees more hikes ahead
Federal Reserve Vice Chair Philip Jefferson stated that he sees no immediate need for further interest rate adjustments. He emphasized that future decisions would depend