As chair Powell testimony continues in front of the Senate Banking Committee, the US stocks have turned negative. When questioned whether Powell is willing to do all he can to bring down inflation, he replied "Yes". That may have helped contribute to the downward bias. Of course there are other balls in the air.
A snapshot of the market currently shows:
- Dow industrial average -88.95 points or my 0.26% at 33803
- S&P index -21.6 points are -0.49% at 4364.90
- NASDAQ index -160 points or -1.16% at 13590
- Russell 2000 -27.59 points or -1.34% at 2031.30
In other markets:
- Spot gold is near unchanged levels at $1929.40
- crude oil is trading at $110.26. That's down about $0.35 on the day
- bitcoin is trading at $42,569 which is lower on the day
- 2 year yield is at 1.536%, up 1.8 basis points
- 10 year is up 1.863%, down 1.7 basis points
