Stock Market Today: Stocks End Lower Ahead of Powell Speech
Investors continued to grapple with Friday's strong jobs report and how it might impact the Fed's decision-making.


Stocks opened lower Monday and stayed that way through the close. Amid a bare economic calendar and just a smattering of earnings reports released ahead of the open, attention was focused on last Friday's stunning jobs report – and what it could potentially mean for the Federal Reserve's rate-hike plans going forward.
The January jobs report came in much higher than expected and the unemployment rate fell to its lowest point since 1969. This sparked concern that the Fed will have to continue raising interest rates to stamp out inflation.
"While there were some promising aspects of the jobs report – cooling wage growth and higher participation – it's impossible to ignore the fact that the labor market remains red hot," says Craig Erlam, senior market analyst at currency data provider OANDA. "Of course, no one will be surprised if we see huge revisions next month – we've seen some substantial ones recently after all – but for now, it's hard to argue that the easier policy move for the Fed is to keep hiking in 25 basis point increments."

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Wall Street could get some hints tomorrow as to what the central bank plans to do next, with Fed Chair Jerome Powell slated to participate in a moderated discussion at the Economic Club of Washington D.C.
In single-stock news, Dell Technologies (DELL, -3.0%) said it's laying off roughly 5% of its global workforce, equating to around 6,600 jobs, as "market conditions continue to erode," said Jeff Clarke, the PC maker's co-chief operating officer, in a note to employees. Meanwhile, Tyson Foods (TSN) fell 4.6% after the meat processor reported fiscal first-quarter earnings of 85 cents per share on $13.3 billion in sales, missing consensus estimates.
As for the major benchmarks, the Dow Jones Industrial Average slipped 0.1% to 33,891, the S&P 500 gave back 0.6% to 4,111, and the Nasdaq Composite finished 1.0% lower at 11,887.
The Best Gold ETFs to Buy
Gold gained ground today, rising nearly 0.2% to $1,879.50 an ounce. After trending lower for most of 2022, the precious metal has been on quite a run in recent months, up about 15% since early November.
"The recovery in gold has primarily been fueled by a weakening dollar and fading market expectations for a further prolonged Federal Reserve (Fed) rate hike cycle due to receding inflation pressures in the U.S.," says Adam Turnquist, chief technical strategist at LPL Financial. "Rising demand from foreign central banks, including the People's Bank of China (PBOC), has provided an additional tailwind for gold."
Although gold's rally has pushed the price of the precious metal into overbought territory – a move that sparked some profit-taking last week – Turnquist believes there could be more upside ahead. Continued gains would benefit gold stocks, and gold ETFs would also reap rewards.
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
Stock Market Today: Stocks Soar on China Trade Talk Hopes
Treasury Secretary Bessent said current U.S.-China trade relations are unsustainable and signaled hopes for negotiations.
By Karee Venema
-
2026 Disney Dining Plan Returns: Free Dining for Kids & Resort Benefits
Plan your 2026 Walt Disney World vacation now. Learn about the returning Disney Dining Plan, how kids aged three to nine eat free, and the exclusive benefits of staying at a Disney Resort hotel.
By Carla Ayers
-
What Is the Buffett Indicator?
"It is better to be roughly right than precisely wrong," writes Carveth Read in "Logic: Deductive and Inductive." That's the premise of the Buffett Indicator.
By Charles Lewis Sizemore, CFA
-
CPI Report Puts the Kibosh on Rate Cuts: What the Experts Are Saying About Inflation
CPI Consumer price inflation reared its ugly head to start the year, dashing hopes for the Fed to lower borrowing costs anytime soon.
By Dan Burrows
-
Fed Leaves Rates Unchanged: What the Experts Are Saying
Federal Reserve As widely expected, the Federal Open Market Committee took a 'wait-and-see' approach toward borrowing costs.
By Dan Burrows
-
CPI Report Keeps the Fed on Track: What the Experts Are Saying About Inflation
CPI Disinflation in key areas of consumer prices should help the Federal Reserve stick to its policy path of gradual cuts to interest rates.
By Dan Burrows
-
Why Wells Fargo's Revenue Miss Isn't Worrying Wall Street
Wells Fargo is one of the best S&P 500 stocks Wednesday even after the big bank's top-line miss. Here's what you need to know.
By Joey Solitro
-
Blowout December Jobs Report Puts Rate Cuts on Ice: What the Experts Are Saying
Jobs Report The strongest surge in hiring since March keeps the Fed on hold for now.
By Dan Burrows
-
Constellation Energy Stock Soars on Its $26 Billion Buy. Here's Why Wall Street Likes the Deal
Constellation Energy is one of the best S&P 500 stocks Friday after the utility said it will buy Calpine in a cash-and-stock deal valued at $26 billion.
By Joey Solitro
-
Fed Sees Fewer Rate Cuts in 2025: What the Experts Are Saying
Federal Reserve The Federal Reserve cut interest rates as expected, but the future path of borrowing costs became more opaque.
By Dan Burrows