Dow opened over 200 points on Tuesday as investors awaited remarks from Federal Reserve Chair Jerome Powell on the state of the economy.
In the early hours of trading, the Dow Jones Industrial Average (.DJI) opened 274.6 points, or 0.59%, to 46,655.11. S&P 500 (.SPX) rose 4.60 points, or 0.08%, to 6,699.44, while the Nasdaq Composite (.IXIC) dipped 58.7 points, or 0.26%, to 22,729.72.
Federal Reserve Chair Jerome Powell is set to deliver remarks on the US economy this Tuesday at an event hosted by the Greater Providence Chamber of Commerce, just one week after the central bank implemented its first interest rate cut of 2025.
On Wednesday, the Fed lowered its benchmark rate to a range of 4.00%-4.25%, marking the first rate cut since Donald Trump’s inauguration in January 2025.
This move follows a period of policy changes, including significant tariff hikes, that led the Fed to adopt a wait-and-see approach regarding their economic impact.
Powell’s speech will be part of the 2025 GPCC Economic Outlook Luncheon, which will be livestreamed at 11:30 a.m. ET on Tuesday, September 23. Powell is scheduled to speak at 12:35 p.m. ET.
In his recent press conference following the Federal Open Market Committee meeting on September 17, Powell emphasised that the rate cut should not be seen by markets as the beginning of an aggressive easing cycle.
His tone at the time was cautious, framing the move as “risk management”. Investors will definitely be closely watching Jerome Powell’s insights on the US economy, inflation, and the job market, as they will provide key guidance for the Fed’s future monetary policy.