Wall Street set to open higher ahead of Powell testimony

Published by
Reuters

By Bansari Mayur Kamdar (Reuters) -U.S. stock index futures rose on Tuesday as investors picked up beaten-down stocks ahead of Federal Reserve Chair Jerome Powell’s testimony that may offer fresh insight on policy tightening and the central bank’s plans to tackle inflation. The rise in futures set the S&P 500 index on course to break a five-day slump, while the Nasdaq was set to extend thin gains from Monday as big tech stocks edged high after being battered by rising bond yields. [US/] “There’s always good value when things pull back enough,” said Ryan Detrick, chief market strategist at LPL …

Read More