The S&P 500 and Dow Jones indexes were muted at the open on Tuesday as coronavirus-related worries and simmering U.S.-China tensions weighed on sentiment at the end of what is expected to be the S&P 500’s best quarter since 1998.
Eight of the 11 major S&P 500 sub-indexes were trading slightly higher, with real estate and financial stocks leading gains. Federal Reserve Chair Jerome Powell, who will testify before the U.S. House of Representatives Financial Services Committee at 12:30 p.m. ET, said in prepared remarks the outlook for the world’s biggest economy was “extraordinarily uncertain.”
Meanwhile, kicking off a data-heavy week for Wall Street, consumer confidence is expected to have climbed to 91.8 in June from 86.6 in May. Data on manufacturing activity and employment are due on Wednesday and Thursday.
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