Stocks Snap Winning Streak After Powell Warns Inflation Victory Not Assured

The S&P 500’s shot at its longest winning streak since 2004 appeared within grasp for much of Thursday’s trading session. Then Federal Reserve Chair Jerome Powell and the Treasury market crashed the party.

Major indexes fluttered between small gains and losses in quiet trading through the early afternoon. They turned firmly into the red after an auction of government debt showed lower-than-expected demand and propelled Treasury yields higher. 

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