News Formal

Stock market today: S&P 500 set to build on record high with Powell on deck

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 25 sec. here
  • 6 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 63%

Jerome Powell News

Nasdaq Composite,Federal Reserve,Economic Slowdown

Jerome Powell will shed light on the Fed's picture of the economy as he gives a policy update to the Senate.

US stocks were poised to resume their record-setting climb on Tuesday, as investors assessed concerns about a pullback as they waited for Federal Reserve chair Jerome Powell to speak. S&P 500 futures edged up 0.2%, while those on the tech-heavy Nasdaq 100 led the way higher with a 0.4% gain. Dow Jones Industrial Average futures were little changed. Stocks have ground out fresh all-time highs as signs of a US economic slowdown bolster bets on interest-rate cuts.

Testimony to the House follows the next day, setting the stage for a key update on consumer inflation on Thursday — all potential catalysts for stocks if they confirm a cooling. But a note of caution is seeping into the market as the idea of a summer pullback gets more backers, with Morgan Stanley strategist Mike Wilson calling for a 10% correction. Wall Street is getting cold feet about this coming earnings season, given the higher bar of expectations they face this time around.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 47. in AU
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: S&P 500, Nasdaq eke out fresh records with Powell on deckA consequential week that could provide key signals for the near-term path of interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq eye fresh records as Powell notes inflation progressInvestors cautiously weighed the rate-cut odds ahead of crucial June jobs data, with Powell comments on deck.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stock futures steady as S&P 500, Nasdaq try to build on recordsA consequential week that could provide key signals for the near-term path of interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: S&P 500, Nasdaq hover near records as Nvidia becomes most valuable stockTechs are continuing to lead an AI-driven rally that investors simply can't afford to miss out on.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks wobble as S&P 500, Nasdaq try to build on recordsA consequential week that could provide key signals for the near-term path of interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Stocks edge higher as S&P 500, Nasdaq try to build on recordsA consequential week that could provide key signals for the near-term path of interest rates.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »