|I:DJI||DOW JONES AVERAGES||34552.99||-201.94||-0.58%|
|I:COMP||NASDAQ COMPOSITE INDEX||13838.46||-55.38||-0.40%|
Powell said "The inflation outlook had deteriorated significantly this year even before Russia’s invasion of Ukraine," he said in remarks to the National Association of Business Economics while signaling more aggressive rate hikes may be necessary.
Powell's warning comes a few days after policymakers rolled out the first interest rate hike in three years of 25 basis points and hinted that six more could come this year.
Warren Buffett's Berkshire Hathaway is expanding its insurance portfolio with the purchase of Allegheny for $11.6 billion putting a portion of his $144+ billion in cash to work. The deal will expand Berkshire’s already considerable insurance holdings, including brands like Geico auto insurance.
|BRK.B||BERKSHIRE HATHAWAY INC.||349.63||+7.04||+2.05%|
|OXY||OCCIDENTAL PETROLEUM CORP.||60.96||+4.72||+8.39%|
Aviation, Boeing shares fell after a 737 with 132 people on board operated by China Eastern crashed in the southern province of Guangxi on Monday, officials said.
|BA||THE BOEING CO.||185.90||-6.94||-3.60%|
|CEA||CHINA EASTERN AIRLINES||17.68||-1.27||-6.70%|
Commodities, Crude prices rose over 7% as U.S. oil hit $112 per barrel, while Brent, the global benchmark, hit $115. Gas prices, per AAA, hovered below $4.30 per gallon.
|USO||UNITED STATES OIL FUND L.P.||79.52||+4.84||+6.48%|
|BNO||UNITED STS BRENT OIL FD LP UNIT||32.16||+2.38||+8.01%|
|UGA||UNITED STATES GASOLINE FUND LP PARTNERSHIP UNITS||59.61||+2.81||+4.95%|
In cryptocurrencies, Bitcoin traded above the $40,000 level.