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Stocks rally stalls, eyes Powell testimony for rate clues

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Investors are looking ahead to China's rate decision and Fed testimony from Jerome Powell.

A man reads a magazine in front of a stock index board at a bank in Bangkok, Thailand October 17, 2016. REUTERS/Edgar Su/File PhotoBank of England set to hike rates by 25bps on ThursdayChina expected to ease monetary policy after growth disappoints

Hopes that the Fed will end its most aggressive rate increase campaign in decades are boosting global stock indices dominated by the U.S. tech megacaps that tend to outperform when risk appetite is buoyed by easier monetary policy.have flowed into big tech in recent weeks, with analysts citing the productivity-improving potential of artificial intelligence for the rally.

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