US stocks tread water ahead of Fed Chair Powell's testimony

NEW YORK, March 7 — Wall Street stocks were little changed early today as markets awaited Federal Reserve congressional testimony that will be digested for clues on additional interest rate hikes.

Since early last year, the Fed has lifted the benchmark lending rate eight times in hopes of reining in surging inflation. "The market can handle today's testimony so long as the Fed Chair doesn't sound as though he is opening the door to a much higher terminal rate than the market now expects," said Briefing.com analyst Patrick O'Hare.The broad-based S&P 500 slipped 0.1 percent to 4,046.48, while the tech-rich Nasdaq Composite Index advanced 0.2 percent to 11,698.00.

Ireland Ireland Latest News, Ireland Ireland Headlines

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

Stocks rise ahead of Powell testimony, China shares limit gainsNEW YORK, March 6 — Emerging market stocks rose today as US Treasury yields dipped ahead of commentary from Federal Reserve Chair Jerome Powell later in the week, but gains were...
Source: malaymail - 🏆 1. / 86 Read more »