Stock Market Update
09-Jul-24 10:40 ET
Digesting Fed Chair Powell testimony
Dow -125.56
at 39219.23,
Nasdaq +64.85
at 18468.59,
S&P +10.90
at 5583.75
[BRIEFING.COM] The market is moving mostly sideways at the index level.
Fed Chair Powell acknowledged to the Senate Banking Committee that the "likely next direction" of policy will be a loosening of policy, indicating a rate hike is not likely.
Treasury yields are little changed. The 10-yr note yield is up two basis points to 4.29%.
