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US stocks dip ahead of Powell's comments as investors weigh mixed signals from Fed

Fed chair Jerome Powell
Aaron Schwartz/Xinhua via Getty Images
  • US stocks dipped on Friday as investor's look ahead to comments from Jerome Powell.

  • The Federal Reserve chairman will speak at Spelman College at 11 a.m. and again at 2 p.m.

  • Earlier this week, other Fed officials made dovish and hawkish remarks.

Stocks dipped on Friday as investors looked ahead to Jerome Powell's comments after markets wrapped up a blockbuster November.

The Federal Reserve chairman will speak at Spelman College at 11 a.m and and again at 2 p.m., after other central bankers shared a mixed bag of opinions this week.

On Tuesday, Fed Governor Christopher Waller, who previously has been more hawkish, appeared to inch closer toward the prospect of rate cuts. Then on Thursday, New York Fed President John Williams, who is generally more dovish, warned that another rate hike is still a possibility — despite fresh signs inflation is cooling.

Market are also starting a new month after coming off a big November, fueled by optimism about a peak in the Fed's rate hikes. Last month, the Dow and S&P 500 jumped about 9%, while the Nasdaq surged 10.7%.

Here's where US indexes stood at the 9:30 a.m. opening bell on Friday: 

Here's what else happened today: 

In commodities, bonds, and crypto: 

  • West Texas Intermediate crude oil rose 0.11% to $76.04 a barrel. Brent crude, the international benchmark, fell by 0.11%to $80.44 a barrel.

  • Gold fell 0.06% to $2,036.80 per ounce.

  • The 10-year Treasury yield was roughly flat at 4.346%.

  • Bitcoin rose 1.69% at $38,387.50.

Read the original article on Business Insider