Wall Street down ahead of Jerome Powell testimony
2 years, 11 months ago

Wall Street down ahead of Jerome Powell testimony

Live Mint  

U.S. stock indexes fell on Tuesday 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. "I believe Powell will stick to his script, as he generally is disciplined enough to do and I'm not expecting anything that would surprise markets," said David Bahnsen, chief investment officer at the Bahnsen Group. "It's been a bit of a rough start to 2022 for equities, but investors need to remember the fundamental story is still quite strong," said Ryan Detrick, chief market strategist at LPL Financial. Marko Kolanovic, chief global markets strategist at JPMorgan Chase & Co, called the recent pull-back in riskier assets "arguably overdone" and said it presented investors with a buying opportunity.

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