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Stocks Soar After Fed Chair Powell Remarks Declining Inflation

The stock market ended a volatile session higher on Tuesday, as Fed Chair Jerome Powell acknowledged that inflation has started easing.

Overall, S&P 500 rose 1.3% to 4,164, while NASDAQ climbed 1.9% to 12,114.

 

Tweet of the Day

Chart of the Day

Our chart of the day is the ten-year chart of Sherwin-Williams (SHW) as of February 1, 2023, when the stock was at $243.

Management sees a challenging 2023, thus lowered revenue and profit growth.

Analysts took 2023 EPS estimates from $10.26 to $8.66.

But this company should benefit from deflation in chemical prices. In addition, shipping rates have declined. That could boost profits above expectations.

SHW is part of the Conservative Growth Portfolio.

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