" Market Resilience Amidst Powell's Congressional Testimony"
Summary of Last Session
Stock indexes rebounded in early trading, recovering some of the losses from the previous day's decline. The bounce was fueled by Federal Reserve Chairman Jerome Powell's Congressional testimony, which reiterated the Fed's cautious stance on interest rate adjustments.
Index Perf
Key Events of the Session
Powell's testimony before the House Financial Services Committee maintained the Fed's data-dependent approach, emphasizing the need for evidence of sustainable inflation trends before considering rate cuts. The testimony also addressed the proposed Basel III Endgame rules, which aim to update banking regulations and increase capital requirements for certain banks.
J.Powell
Market Scenario
Despite initial gains, the market showed some volatility as gains faded towards the end of the day. $Tesla Motors(TSLA)$ $Apple(AAPL)$
Highest OI
High OI
Investors are closely monitoring upcoming economic data, particularly Friday's February jobs report and next week's inflation data, for further guidance on the Fed's monetary policy direction.
The European Central Bank is set to keep borrowing costs steady for a fourth meeting, though new economic projections should bolster arguments for cuts to start later this year. Analysts unanimously predict the deposit rate will be held at a record 4%, with most officials continuing to caution that it’s too soon to declare victory over inflation — despite it nearing the 2% goal.
Conclusion
The market exhibited resilience during Powell's testimony, with indexes recovering from earlier losses. However, investors remain cautious as they await key economic indicators to assess the future trajectory of monetary policy.
The information provided is for informational purposes only and should not be construed as financial advice. Investors should conduct their own research and consult with a financial advisor before making investment decisions.
Thanks for reading [Salute] , support [Strong]
@TigerStars @CaptainTiger @TigerPM @Tiger_SG @TigerEvents @Daily_Discussion
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- LEESIMON·03-08🩷GoodLikeReport