Stocks Reverse Gains on Hawkish Fed Speakers' Remarks; Conagra up on Earnings Beat, Lamb Weston Sinks on Missed Forecasts
• U.S. stocks erased gains and turned negative on Thursday following cautious commentary from multiple Federal Reserve speakers • Markets had risen earlier on signs of some cooling in the labor market based on job cuts and jobless claims data • Fed's Kashkari, Mester, and Goolsbee said more evidence on falling inflation needed before considering rate cuts • Conagra Brands stock rose on better-than-expected profits as consumers continue eating at home • Lamb Weston shares tumbled after the company missed quarterly revenue and profit forecasts due to enterprise system issues