Investing.com Stocks Offered a Day of Profits for Many Tech Stocks and a Lot of Waiting for Jerome Powell.
Powell, chairman of the Federal Reserve Board, will testify for two days on Wednesday before Congress. and what everyone wants is a sense of whether the Fed is really lowering interest rates this month.
As a result, the day increased by 0.1%. They fell by 0.1% and the Nasdaq rose by 0.5%.
The problem for and was that many large stocks that had reached the recent highs declined, including Verizon Communications [1
PepsiCo (NASDAQ :), a soft drinks and soda maker, performed better than expected the day after second-quarter results.  The home accessory retailer Bed Bath & Beyond (NASDAQ) reports the results after the close on Wednesday. The stock hit a roller coaster ride this year to boost the second quarter 1% yoy. Shares fell by 49% in 2018.
But Big Tech had a good day with profits for Apple (NASDAQ :), Amazon.com (NASDAQ :), Google Parent Alphabet (NASDAQ :), and Facebook (NASDAQ :).  Oil prices rose slightly that day and barely hit higher. The return was 2.061% (+ 1.3%).
Powell's statement provides the first chance investors have heard after last week's June job report, in which the number of non-farm workers has risen by a surprising 224,000, expecting 160,000. The report questioned whether the domestic economy slowed down, as the Fed suggested in recent months.
Winners and losers among the shares
The tech companies Twitter (NYSE :), Amazon.com (NASDAQ 🙂 and Facebook (NASDAQ 🙂 were among the top performers of the S & # P 500 on this day.
Oil Giant Chevron (NYSE :), Communication Giant Verizon Communications (NYSE 🙂 and American Airlines (NASDAQ 🙂 were among the worst performing S & P 500 performers.
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