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US Equities Markets End Mixed Tuesday as Investors Weigh Fed Comments
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US Equities Markets End Mixed Tuesday as Investors Weigh Fed Comments
Jun 25, 2024 1:16 PM

03:58 PM EDT, 06/25/2024 (MT Newswires) -- US equity indexes ended mixed Tuesday as investors weighed remarks by Federal Reserve officials and the latest economic data.

* The US consumer confidence index fell to 100.4 this month from a downwardly revised 101.3 in May, the Conference Board said. The consensus on Bloomberg was for a 100 print.

* Fed Governor Michelle Bowman said that the Federal Open Market Committee is not yet able to lower the policy rate and should consider multiple scenarios while remaining "cautious" about reducing interest rates too soon or too quickly. Bowman repeated previous comments that she would be willing to raise rates further at a future meeting if inflation progress stalls.

* August West Texas Intermediate crude oil fell $0.84 to $80.79 per barrel, while August Brent crude, the global benchmark, was last seen down $1.08 at $84.93 as the market pauses its bullish run, even as geopolitical risk is on the rise as Ukraine increases attacks on Russian oil infrastructure and Israel continues to press its war on Hamas in Gaza.

* Carnival (CCL) shares rose 8.3% as the cruise operator raised its full-year earnings outlook after it unexpectedly swung to a fiscal Q2 profit, buoyed by significantly higher prices on bookings taken during the period.

* Pool (POOL) shares fell 8.5% after the swimming pool supplies and equipment distributor cut its full-year earnings outlook.

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