Analyst: U.S. stocks still lean positive amid many influences
U.S. stocks hovered between slight gains and slight losses on Wednesday, as investors analysed minutes from the Federal Reserve's January policy meeting and digested Trump's tariff announcement. The S&P 500 was on track for a second straight day of record closing highs, the Nasdaq was essentially flat and the Dow was slightly lower. Sam Stovall, chief investment strategist at CFRA Research in New York, said, ‘The market remains tilted to the positive side in the face of high valuations, lower first-quarter earnings estimates and global trade uncertainty.’ After the minutes of the Fed's January meeting showed concerns among policymakers about stubborn inflation and the likely impact of Trump's policy proposals, particularly tariffs, on their efforts to bring price growth down to target, Stovall added: ‘The Fed will continue to rely on the data, and they're in no hurry to cut rates. (There's (really) nothing new, but at the same time there's nothing unexpectedly negative.’
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