Investing.com – Stocks offered a day for gains for many tech stocks and much waiting for Jerome Powell.
Powell, president of the Federal Reserve Board, will start two days of testimony before Congress Wednesday, and what everyone wants is a sense of whether the Fed will really cut interest rates this month.
As a result, the day ended with 0.1%. They were out of 0.1%, and the Nasdaq rose half-healthy 0.5%.
The problem for and was that many large stocks that had hit the latest highs were withdrawing, including Verizon Communications ] (NYSE :), Procter & Gamble (NYSE 🙂 and Coca-Cola (SNEEZE:).
Soft-drink-and-soda maker PepsiCo (NASDAQ 🙂 shares shrunk better than expected on the day after the second quarter result.
Home accessories dealer Bed Bath & Beyond (NASDAQ 🙂 reports results after Wednesday's close. The shares have had a roller coaster this year to finish the second quarter by 1
But big tech had a good day with gains for Apple (NASDAQ :), Amazon.com (NASDAQ :), Google parent Alphabet (NASDAQ 🙂 and Facebook (NASDAQ :). 19659004] Oil prices rose slightly during the day and were barely higher. The dividend was completed at 2.061%, up 1.3%.
Powell's testimony will give the first chance that investors have had to hear their minds after last weeks of June's job report, showing that non-farm payrolls are rising by a surprising 224,000 that is greater than expected 160,000. The report questioned whether the domestic economy is lowering as the Fed has suggested over the past few months.
Winners and losers among stocks
Tech companies Twitter (NYSE :), Amazon.com (NASDAQ 🙂 and Facebook (NASDAQ 🙂 were among the best S & P 500 artists on the day.
Oil Giant Chevron (NYSE :), Communications Giant Verizon Communications (NYSE 🙂 and American Airlines (NASDAQ 🙂 were among the worst S & P 500 performing artists.
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