Stocks hover below record highs ahead of Powell testimony on Fed's pandemic response [FOX Business Network]
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Source: FOX Business Network
U.S. equity markets hovered just below record highs as investors awaited Capitol Hill testimony from Federal Reserve Chairman Jerome Powell. Ticker Security Last Change Change % I:DJI DOW JONES AVERAGES SP500 S&P 500 I:COMP NASDAQ COMPOSITE INDEX Powered By The Dow Jones Industrial Average rose 14 points, or 0.04%, while the S&P 500 and the Nasdaq Composite climbed 0.05% and 0.01%, respectively. The quiet morning comes a day after the major averages posted their biggest gains in at least a month, buoyed by comments from New York Fed President John Williams, who said the U.S. economy isn't strong enough for the central bank to shift policy. STOCK MARKET'S MOST POPULAR TRADE FACES 'PERFECT STORM' The Fed will remain in focus Tuesday as Powell will testify on lessons learned from the central bank's response to the coronavirus pandemic. Ahead of Powell's testimony, the benchmark 10-year yield held at 1.48% and was near its lowest level since the beginnin
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