Dow leads stocks lower ahead of Powell testimony: Stock market news today

Stocks ended the session lower Tuesday as investors awaited Federal Reserve Chairman Jerome Powell’s testimony and eyed potential headwinds to the recent rally, including concerns about China’s economy. The Dow Jones Industrial Average (^DJI) fell 0.72%, or more than 200 points. The S&P 500 (^GSPC) was down about 0.47%, while the Nasdaq Composite (^IXIC) dropped 0.16%. Worries about the health of China’s economy, the second-biggest in the world, persisted as Beijing’s latest cut to a key lending rate fell short of hopes. Markets are also bracing for Powell’s two-day testimony to a House committee set to start Wednesday, watching for […]

Where Stock Market Is Headed After Wild First Half: Five Charts

(Bloomberg) — As a dizzying first half for US stocks draws to a close, the Nasdaq 100 Index is poised for its best opening six months to a year ever, and Wall Street is growing concerned that the Federal Reserve will derail the rally. Most Read from Bloomberg Optimism that the US central bank is approaching the end of its tightening campaign helped transform the technology-heavy gauge from 2022’s market underachiever to 2023’s early champion, with a surge of 36% erasing last year’s 33% slump. The resurgence has defied skeptics, coming in the face of bank failures, recession fears and […]