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US Equity Markets Close Mixed Monday After Fed Officials' Remarks
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US Equity Markets Close Mixed Monday After Fed Officials' Remarks
May 20, 2024 1:27 PM

04:10 PM EDT, 05/20/2024 (MT Newswires) -- US equity markets ended mixed Monday following comments by Federal Reserve officials.

* Fed Vice Chair for Supervision Michael Barr said the Federal Open Market Committee is in a "good position" to hold policy steady until there is more evidence that inflation is slowing toward the 2% goal, while Fed Governor Michelle Bowman repeated her previous comments that monetary policy is not on a preset course and that the lack of progress on inflation means that she is not able to rule out the need for further rate tightening.

* JPMorgan Chase ( JPM ) Chief Executive Jamie Dimon told shareholders the timetable for his retirement is no longer five years away, saying that succession plans are "well on the way," according to media reports. Shares of the company fell 4.5%.

* June West Texas Intermediate crude oil closed down $0.40 to $79.66 per barrel, while July Brent crude, the global benchmark, was last seen down $0.31 to $83.67.

* Hims & Hers Health ( HIMS ) shares jumped 27% after the company said it now offers GLP-1 injections starting at $199 per month, using compounded versions of the active ingredient in weight loss drugs sold by Novo Nordisk ( NVO ) and Eli Lilly ( LLY ) .

* Jeffs' Brands ( JFBR ) shares plunged nearly 41% after it signed a memorandum of understanding to acquire a company that operates a logistics center in New Jersey.

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