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U.S. Stocks End Mostly Higher as Investors Gear Up For Powell Testimony


Wednesday, 10 July 2019 03:16 WIB

DOW JONESS & P 500Wall StreetSaham AS


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U.S. stocks finished mostly higher on Tuesday, after back-to-back losses for the S&P 500 and Nasdaq, as investors looked ahead to testimony from Federal Reserve Chairman Jerome Powell starting Wednesday.

The S&P 500 was up 0.1% to finish around 2,980. The Dow Jones Industrial Average shed 22 points, or 0.1%, to end near 26,784, based on preliminary numbers, recording its third straight losing session. The Nasdaq Composite rose 0.5% to finish near 8,142.

Equities struggled for direction as investors priced out expectations for a 50 basis point rate-cut in July, with some even questioning whether a 25 basis point cut will take place this month.

Powell will testify before Congress in the next two days, potentially throwing out clues on the Fed's policy plans.

In company news, shares of Netflix Inc. rose 1% after Raymond James reiterated its bullish stance on the video-streaming company.

Source : Market Watch


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