Monday, August 2

Jerome Powel

Bank earnings, Bank of America, Bitcoin, Citigroup, crypto, Earnings, Federa reserve, gold, inflation, Jerome Powel, Markets, MI Exclusive, Oil

US stocks rise as Fed Chair Powell says the US economic recovery still has further to run before tapering

Deutsche Bank said retail investors have been key players in the stock market rally Johannes Eisele/Getty Images US stocks rose Wednesday on comments from Fed chief Jerome Powell that the US recovery still has further to go before the central bank changes course. Bank earnings continued, with Bank of America and Citigroup reporting second-quarter results. Bitcoin and oil slipped, while gold prices rose. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks moved higher on Tuesday after Federal Reserve Chairman Jerome Powell said the US economic recovery still has further to go before the central bank considers tapering its asset purchases.Powell said the US job market "is still a ways off" from the progress the Fed hopes to achieve, suggesting it w...