Powell testimony, Biden still running, Boeing- what's moving markets
Investing.com -- Fed Chair Jerome Powell testifies in front of the Senate Tuesday, with futures pointing to a positive start on Wall Street. President Biden vows to continue the battle to return to the White House, while Boeing remains in the spotlight after a wheel comes off one of its aircraft.Economic data released of late has tended to point to cooling inflation, while the jobs market is also showing signs that months of tight policy is taking its toll.
Similar comments look likely, but Powell faces the tricky balancing act of making sure price pressures are restrained while not hitting the U.S. economy too hard and for too long with elevated interest rates.U.S. stock futures edged higher Tuesday, continuing the recent positive tone ahead of the release this week of key inflation data, testimony from Fed chief Jerome Powell and the start of the quarterly earnings reporting season.
Among the reasons for a decline are uncertainty over how swiftly the Federal Reserve will bring interest rates down from nearly two-decade highs and falling pricing power on the part of companies, increasing the likelihood of disappointing earnings results, he said.U.S. President Joe Biden vowed to stay in the presidential race on Monday, as he attempted to dismiss the concerns about his mental fitness caused by a poor debate outing against Republican Donald Trump at the end of June.
The wheel was from a Boeing 757-200, and follows a United Boeing 777-200 jet losing a tire mid-air following takeoff from San Francisco in March.
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