- The major Wall Street indices are little changed on Tuesday.
- Energy stocks fall heavily under pressure from falling crude oil prices.
- Investors await testimony from FOMC Chairman Powell and Treasury Secretary Yellen.
The main stock indices They started the day relatively close to Monday’s closing levels as investors appear to refrain from taking important positions ahead of FOMC Chairman Jerome Powell and Treasury Secretary Janet Yellen’s testimony before Congress.
At time of writing, the S&P 500 Index was down 0.2% on the day to 3,932, the Dow Jones Industrial Average was down 0.25% to 32,656 and the Nasdaq Composite was up 0.3% to 13,127.
Among the top 11 sectors of the S&P 500, the Energy Index is down 2% after the opening bell pressured by a 3.5% drop in crude oil prices. Meanwhile, the financial index is shedding 0.4% as the 10-year US Treasury yield is shedding more than 2% for the second day in a row on Tuesday. On the other hand, the Technology Index is posting modest daily gains.
Later in the session, data on new home sales and the Richmond Fed manufacturing index will be featured on the US economic agenda.
S&P 500 chart (daily)
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