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Daily Resources Overview
The U.S. economic news of the day Tuesday wasPowell’s morning testimony on the U.S. economy to the Senate Banking Committee.Most market watchers reckoned Powell would sound a dovish tone on monetarypolicy and that’s what he delivered. He reiterated the Fed will remain“patient” on any U.S. monetary policy adjustments, and said the U.S. economyremains healthy, albeit with a few concerns on the global front. Powell did notdeliver any surprises to the marketplace. He speaks to the House ofRepresentatives on Wednesday.
Asian and European stock markets were mostlyweaker overnight, on corrective pullbacks from recent gains. U.S. stock indexesare also pointed toward slightly lower openings when the New York day sessionbegins. The U.S. indexes hit three-month highs on Monday and were trading nearsteady at midday today, amid generally upbeat trader and investor attitudes andwith no major geopolitical fires presently burning