Wall Street near flat as Powell speaks
Main U.S. indexes roughly flat
Healthcare weakest S&P 500 sector; Cons Disc leads gainers
Euro STOXX 600 index down ~0.6%
Dollar, crude ~flat; gold slips; bitcoin off >1%
U.S. 10-Year Treasury yield falls to ~4.44%
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WALL STREET NEAR FLAT AS POWELL SPEAKS
All three of the major U.S. stock indexes are around flat in late morning trading Tuesday, with investors glued to comments from Federal Reserve Chair Jerome Powell.
Powell, speaking at a conference in Portugal, said the central bank still needs more data before cutting interest rates to ensure that recent weaker inflation readings give a true picture of what is happening to underlying price pressures.
Stocks pared losses at the start of his comments.
Investors have been looking for anything that might help them gauge when the Fed might begin cutting rates.
On Friday, a key bit of information - the monthly U.S. jobs report - is due and will take center stage.
Healthcare .SPXHC is the weakest S&P 500 sector along with technology .SPLRCT in early trading. Consumer discretionary .SPLRCD is the leading gainer, and of note, a majority of sectors are higher.
Volume is expected to be light this week given Wednesday's early close and the U.S. July 4th holiday on Thursday.
Here is the morning market snapshot:
(Caroline Valetkevitch)
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FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:
EQUITIES MAYBE A RISKY INVESTMENT AMID ELEVATED VALUATIONS, ELECTIONS - GOLDMAN SACHS - CLICK HERE
BENCHMARK TREASURY YIELD'S HEAD STILL ABOVE THE CLOUD - CLICK HERE
EUROPE'S INSURERS WEAK AS ATLANTIC HURRICANE SEASON KICKS OFF - CLICK HERE
Q2 U.S. EARNINGS GROWTH TO RISE 'INTO THE TEENS' - DB - CLICK HERE
INVESTOR POSITIONING IN EUROPE TURNS BEARISH - CLICK HERE
RBC GINGERLY LIFTS S&P 500 YEAR-END TARGET TO 5700 - CLICK HERE
THE PRICE IS RIGHT - CLICK HERE
CAGEY START FOR EUROPE - CLICK HERE
EUROPEAN EQUITY FUTURES RED - CLICK HERE
DECISION DAY FOR FAR RIGHT'S RIVALS - CLICK HERE
EArly snapshot https://tmsnrt.rs/3zsItuV
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