Posted 3/6/2024, 6:38:00 PM
Stocks Rebound as Powell Hints at 2024 Rate Cuts, Tech Jumps 1%
- Stocks rebounded as Powell said rate cuts still likely in 2024 to support growth
- Tech stocks jumped nearly 1% to rebound from previous day's sell-off over growth concerns
- Powell's testimony to Congress will give more clarity on potential timing of rate cuts
- Individual stocks CrowdStrike extended post-earnings rally; NY Community Bank plunged on capital raise report
- ADP data showed wage gains rose for job switchers in February for first time since November