Asian Stocks Set for Steady Open Ahead of Powell: Markets Wrap

-- Asian stocks are poised for a mixed start as traders tread cautiously ahead of Jerome Powell’s testimony to Congress and the start of the US earnings season.Morgan Stanley’s Wilson Says a 10% Stock Market Correction Is ‘Highly Likely’Biden’s Biggest Donors Left Powerless to Sway Him to End Bid

“As earnings season kicks off this week, investors should be prepared to see some ‘choppiness,’ but the market will likely climb back up again once companies resume buybacks,” said Mark Hackett at Nationwide. In commodities, oil extended Monday’s decline as Hurricane Beryl looked less likely to pose major disruptions to crude infrastructure in Texas. Gold held Monday’s 1.4% loss in early trading.Jerome Powell delivers semi-annual testimony to the Senate Banking Committee, TuesdayChina PPI, CPI, WednesdayUS CPI, initial jobless claims, ThursdayCitigroup, JPMorgan and Wells Fargo’s earnings, FridayThe Japanese yen was little changed at 160.

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