It's a muted day on Wall Street as traders await testimony from Federal Reserve Chairman Jerome Powell on Tuesday and June’s Consumer Price Index report on Wednesday. As President Biden faces mounting calls to drop out of the 2024 presidential race, investors are concerned about the election’s impact on the economy, especially as the Fed continues to grapple with inflationary pressures.
briefly surpassed $1 trillion in market capitalization after Morgan Stanley joined a list of brokers boosting price targets on the chipmaker before its earnings.
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