"Powell Signals Rate Cuts Coming, Stock Market Reacts"

US stocks were little changed as Federal Reserve Chair Jerome Powell reiterated the likelihood of interest rate cuts this year, with the S&P 500 and Nasdaq edging higher. Energy sector leads S&P 500, while ADP data shows wage gains increasing. Powell emphasized the significance of falling inflation expectations, while Ford reported a jump in Q1 sales and Disney successfully fended off activist investor Nelson Peltz in a proxy battle. Intel's stock fell after revealing a $7 billion loss in its chip manufacturing business, and Ulta's CEO's comments on a slowdown in the cosmetics category led to a 14% drop in Ulta's shares.