2/23, 10:01 PM (Source: TeleTrader)
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Wall Street closes mixed reversing losses

Major stock markets in the United States closed mixed on Tuesday reversing the experienced losses of previous days. Federal Reserve Chair Jerome Powell gave an uplifting speech on Tuesday, saying that inflation remains "soft" and the Fed will fight "unwanted" inflation if necessary, he also noted that consumer spending is likely to reach pre-pandemic levels in the second half of the year. Meanwhile, Conference Board released a survey indicating that consumer confidence increased in the month of February.

The Dow Jones closed 0.05% higher as Walt Disney gains 2.74% after announcing its plans to stream in local languages in Europe. The Nasdaq 100 lost 0.22% led by Moderna falling by 5.77% as the company promised fewer coronavirus vaccine doses than other producers. Meanwhile, the S&P 500 grew 0.13% with Marathon Oil jumping 9.41%.

The euro remained flat against the dollar, sliding 0.01% to sell for $1.21454 at 4:06 pm ET.

Breaking the News / LH