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Friday’s big stock stories: What’s likely to move the market in the next trading session
Stocks slid on Thursday as Fed Chair Jerome Powell signaled that policymakers don’t need to be in a hurry to cut rates. Here’s what’s on CNBC’s radar Friday.
China retail sales beat forecasts in October while real estate slump worsens
Retail sales grew by 4.8% year-on-year, the National Bureau of Statistics said Friday. That was above the 3.8% forecasted in a Reuters poll, and a pickup from 3.2% growth in September.
Powell says the Fed doesn’t need to be ‚in a hurry‘ to reduce interest rates
„The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully,“ Powell said.
Watch Fed Chair Powell speak live to business leaders in the Dallas area
The appearance comes one week after policymakers again voted to lower their key interest rate by a quarter percentage point.