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Dow, S&P 500 open lower ahead of Powell comments

2023-02-07T14:42:05Z

U.S. Federal Reserve Chair Jerome Powell addresses reporters after the Fed raised its target interest rate by a quarter of a percentage point, during a news conference at the Federal Reserve Building in Washington, U.S., February 1, 2023. REUTERS/Jonathan Ernst/File Photo

The Dow and the S&P 500 opened lower on Tuesday as investors await Federal Reserve Chair Jerome Powell’s remarks for further clues on how long the U.S. central bank will keep interest rates higher.

The Dow Jones Industrial Average (.DJI) fell 121.24 points, or 0.36%, at the open to 33,769.78. The S&P 500 (.SPX) opened lower by 5.73 points, or 0.14%, at 4,105.35, while the Nasdaq Composite (.IXIC) gained 3.80 points, or 0.03%, to 11,891.25 at the opening bell.