Stock market today: Wall Street opens mixed ahead of congressional testimony from Powell

NEW YORK — Stocks are opening mixed on Wall Street ahead of Federal Reserve Chair Jerome Powell’s testimony before the Senate Banking Committee. The S&P 500 was up 0.2% in the first few minutes of trading Tuesday. The Nasdaq composite was up 0.4%, and the Dow Jones Industrial Average slipped 47 points, or 0.1%. Consumer goods company Helen of Troy, which makes Osprey and OXO products, sank 30% after posting first-quarter results that fell far short of forecasts.

“Risk-taking will still likely be more measured ahead of the Federal Reserve Chair’s testimony and the key U.S. inflation release this week,” Yeap Jun Rong, a market analyst at IG, said in a commentary. “The first day of the testimony is always the most important day as we will get to catch the overall tone and the key messages. Some expect Powell to sound cautious regarding the progress on inflation and tell the U.S. politicians to be patient until the Fed gathers enough evidence that inflation is on a solid path toward their 2% target,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Traders are looking ahead to several earnings reports this week including updates from Delta Air Lines on Thursday and major U.S. banks on Friday. Japan's benchmark Nikkei 225 jumped 2.0% to finish at a record high 41,580.17. It briefly topped previous intraday trading highs.

Canada Canada Latest News, Canada Canada Headlines

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

Stock market today: Wall Street edges higher ahead of bank earnings and Powell testimony this weekNEW YORK (AP) — Stocks are a bit higher in early trading on Wall Street, adding to the record highs they set last week. The S&P 500 was up 0.2% in the first few minutes of trading Monday. The Nasdaq edged up 0.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street mixed as red-hot chipmaker Nvidia claws back some recent lossesMarkets on Wall Street were quietly mixed early Tuesday following a mixed session a day earlier that saw a third straight decline for red-hot chipmaker...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Asian stocks are mixed after Wall Street edges to more recordsHONG KONG (AP) — Asian stocks were mixed on Wednesday after U.S. benchmarks ticked to more records following the latest signs that the U.S. economy may be...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Stock market today: Wall Street drifts to a mixed close after European stocks slump againNEW YORK (AP) — U.S. stocks drifted to a mixed close as caution crept into financial markets heading into the weekend. The S&P 500 slipped less than 0.1% Friday after setting an all-time high every other day this week.
Source: SooToday - 🏆 8. / 85 Read more »

Stock market today: Wall Street drifts after mixed economic reports, more AI ebullienceNEW YORK (AP) — U.S. stocks are drifting around their records Thursday following some mixed data on the economy, including the latest encouraging update on inflation. The S&P 500 was up 0.
Source: SooToday - 🏆 8. / 85 Read more »