S&P 500 holds modest gains after Fed’s Bullard signals support for large Sept rate hike

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Stocks were trading mixed Thursday afternoon, with the S&P 500 clinging to a modest gain, after St. Louis Fed President James Bullard signaled his support for another large 75 basis point rate increase at the central bank’s September policy meeting. The Dow Jones Industrial Average DJIA, -0.86% was down about 85 points, or 0.2%, near 33,898. The S&P 500 index SPX, -1.29% was up 0.1% and the Nasdaq Composite Index COMP, -2.01% was trading 0.3% higher, according to FactSet. “We should continue to move expeditiously to a level of the policy rate that will put significant downward pressure on inflation,” Bullard told The Wall Street Journal. “I don’t really see why you want to drag out interest rate increases into next year.”

This article was originally published by Marketwatch.com. Read the original article here.

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