Wall Street's main indexes edged higher on Tuesday, with gains in energy and financial shares countering declines in tech and healthcare, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.
While the S&P 500 remains within about 1% of its record high after four straight months of gains, investors are worried about whether rising inflation could hit equity prices.following reassurances from Federal Reserve officials that the central bank’s ultra-loose monetary policy would remain in place.
Minneapolis Federal Reserve Bank President Neel Kashkari and Fed Vice Chair for supervision Randal Quarles on Tuesday reiterated the view that higher prices would be transitory.Abbott Labs shares fell 8.3% after the company , citing expectations for a sharp decline in revenue from its COVID-19 tests as more Americans get vaccinated. Shares of other test makers also fell.
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The Baron Of Black Wall StreetA century ago, O.W. Gurley built an empire of African American businesses in Tulsa. Though it all came burning down in the massacre of 1921, new generations of entrepreneurs rose from the ashes.
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