Hello, readers!
Today, all eyes are on Federal Reserve Chair Jerome Powell as he begins two days of testimony before Congress. Investors are eagerly awaiting clues about the potential timing of policy easing, with the possibility of rate cuts looming on the horizon. The market has already priced in the first reduction for September, reflecting growing confidence in the Fed's willingness to take action.
Prior to Powell's address, benchmark Treasury yields experienced an uptick, while stock futures saw marginal gains following the S&P 500 and Nasdaq hitting record highs on Monday. It's a pivotal moment, and the market is abuzz with anticipation.
For live coverage and the latest news impacting the markets, be sure to follow our live coverage throughout the day.
Additionally, our team reports on Japan's investing whale, the government pension fund, and its potential impact on global financial markets. With assets totaling $1.53 trillion, this fund is poised to make significant waves as it embarks on a strategic review.
Amidst these developments, certain stocks are poised for notable movements. Intel, Micron Technology, and Nvidia have been on the rise, while BP faces challenges with an expected impairment and lower refining margins. Smart Global Holdings is set to reveal its results after the closing bell, adding further intrigue to today's market activity.
As we navigate these market dynamics, it's crucial to stay informed and make well-informed decisions. Remember, the future of millions hinges on financial preparedness, and TIAA is dedicated to providing a retirement paycheck for life to ensure financial security for all.
Stay tuned for more updates and insights as the day unfolds!
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