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Fed’s Brainard signals slower rate hikes ahead
Tech and growth stocks off session lows
Biogen, Lilly rise on Roche’s Alzheimer’s drug failure
Indexes: Dow up 0.31%, S&P flat, Nasdaq down 0.36%
(Adds analyst comment, updates prices throughout)
By Ankika Biswas and Amruta Khandekar
Nov 14 (Reuters) –
The S&P 500 and the tech-heavy Nasdaq pared losses on Monday as comments from U.S. Federal Reserve Vice Chair Lael Brainard lifted hopes that the Federal Reserve could ease its aggressive stance on interest rate hikes.
Brainard, a voting member of the rate-setting committee this year said that it would be “appropriate soon” for the U.S. central bank to
reduce the pace
of its aggressive monetary policy tightening.
“That is consistent with what the market’s already been telling us,” said Randy Frederick, vice…