Market Bizzz

They have also been concerned about mixed reports from U.S. companies this earnings season. With results in from more than half of the S&P 500 companies, earnings still are expected to have declined year-over-year in the fourth quarter of 2022, according to IBES data from Refinitiv.

The message that Das left Wednesday may appear muddled, but a closer look would tell you that he’s done with interest rate increases for now, barring dramatic developments.

In the currency market, the dollar pulled back a bit after the speech. The dollar index, which measures the U.S. currency against six major rivals, was at 103.30, having dropped to as low as 102.99 in the previous session.

Shares of Japan’s Nintendo Co Ltd and SoftBank Group Corp fell sharply on Wednesday, a day after both unveiled earnings that fell short of expectations, as tech firms around the globe send a cautionary signal to investors.

Traders are keeping a close eye on speeches by Fed officials this week, including Chair Jerome Powell on Tuesday, for any change in the central bank’s rhetoric after data last week showed services activity was strong in January as well as strong job growth.