Equity Storm Watch Is GREEN on the S&P 500 and YELLOW on the Russell 2000
As Wall Street gears up for day two of Jerome Powell's bi-annual congressional tour, which saw the Fed Chairman fielding questions from the Senate Banking Committee, the S&P 500 and Nasdaq continue to set records, reaching new highs bolstered by strong performances from tech giants, mainly Nvidia.
Today, investors will tune in as Powell delivers remarks before the House Financial Services Committee, with market sentiment hanging on every hint of a possible easing of monetary policy in anticipation of rate cuts as early as September. This expectation is affecting bond yields as investors brace for consumer and producer price indices due later this week, as well as the start of the earnings season with major banks like JPMorgan (JPM), Wells Fargo (WFC), and Citi (C) set to report on Friday.
Dear Fellow Expat:
Good morning.
This is again a tricky morning as we approach inflation figures this week.
But there is some g…
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