Stock market today: S&P 500 set to build on record high as Powell kicks off semiannual testimony

  • 📰 YahooFinanceCA
  • ⏱ Reading Time:
  • 21 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • 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 while Federal Reserve chair Jerome Powell kicked off his semiannual update to Congress. The S&P 500 edged up about 0.1% after the index booked its 35th record close of the year on Monday, while the tech-heavy Nasdaq Composite led the way higher with a roughly 0.3% gain following its own record close the day prior.

In prepared remarks, the central bank leader said he's encouraged by evidence of cooler inflation, but that the Fed still needs more "good data" to be confident that inflation is moving towards its 2% target. Powell will appear before the House on Wednesday, setting the stage for a key update on consumer inflation on Thursday — all potential catalysts for stocks if they confirm a cooling.

 

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

Business Business Latest News, Business Business 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 set to build on record high with Powell on deckJerome Powell will shed light on the Fed's picture of the economy as he gives a policy update to the Senate.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

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 »