Wall Street closes lower, pausing its record rally as earnings reports approach

U.S. stocks closed on a negative note Thursday as investors, lacking economic data or sentiment-driving catalysts, took the opportunity to consolidate ahead of third-quarter earnings season. The S&P 500 and Nasdaq eased back from Wednesday’s record highs, while the blue-chip Dow closed with the deepest percentage decline. “The earnings cycle is upon us and it […]

The chairman of the Kansas City Fed supports a cautious interest rate policy

“Restrictions lead to difficult decisions about how to balance competing objectives, and the Fed is charged with these difficult decisions when it comes to inflation and employment,” he said. “To offset this limitation, I believe the Fed must maintain its credibility on inflation.” He said inflation expectations remain stable, but warned this could change quickly […]