From Investing.com: 2024-07-09 14:07:39

U.S. stocks mostly edged higher as Federal Reserve Chair Jerome Powell’s testimony did not deter investor expectations for a rate cut in September. The S&P 500 rose 0.1%, the Dow gained 0.2%, and the Nasdaq added 0.1%. Powell highlighted a cooling labor market and risks of keeping rates too high for too long, supporting bets on a rate cut. Inflation data this week will provide more insight. Earnings season kicks off with major banks reporting, with S&P 500 companies expected to increase earnings per share by 10.1% in Q2. Nvidia and Tesla saw gains after receiving positive recommendations from Wall Street analysts.



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