Stock Market Update

[BRIEFING.COM] The equity market is near session highs at the index level as Fed Chair Powell answers questions after his prepared remarks.

The market has been hype-focused on trade policy of late and Mr. Powell acknowledged that it is "going to be very difficult to have a precise assessment of how much inflation is coming from tariffs."

He indicated that it's "kind of the base case" that inflationary pressures from tariffs would be transitory, adding that the last time tariffs were imposed, the increase in prices was transitory.

Treasury yields are sharply lower. The 10-yr yield moved to 4.26% from 4.32% before 2:00 ET.