The S&P 500 Index ($SPX) (SPY) Tuesday closed down -0.21%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.17%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.04%.
US stock indexes settled mixed, with the S&P 500 falling to a 1-3/4 month low. Hawkish Fed comments Tuesday pushed the 10-year T-note yield to a 5-month high and was negative for stocks. Fed Chair Powell said, "Given the strength of the labor market and progress on inflation so far, it is appropriate to allow restrictive policy further time to work and let the data and the evolving outlook guide us." Also, Fed Vice Chair Jefferson said, "If incoming data suggest that inflation is more persistent than I currently expect it to be, it will be appropriate to hold in place the current restrictive stance of policy for longer."
