U.S. stock futures edged lower on Tuesday, hit by losses in Home Depot and Caterpillar shares, while investors awaited Federal Reserve Chair ...
REUTERS: U.S. equities swerved between positive and negative territory on Tuesday as investors eyed mixed economic data and corporate news while Federal Reserve comments calmed some nerves.
Fed Chairman Jerome Powell told a U.S. Senate Banking Committee that the Fed would remain"patient" in deciding on further interest rate hikes and that rising risks and recent soft data should not prevent solid growth for the economy this year. "The economic data was mixed. We've had a market rally going on for about two months. All those things together suggest this would be a good time to take some profits. It's not wholesale selling but profit taking around the edges."The indexes have been bolstered in recent weeks by trade optimism and dovish signals from the Fed, with the benchmark S&P 500 index just 4.7 percent away from its record closing high in September.
At 3:11PM ET, the Dow Jones Industrial Average was up 44.89 points, or 0.17 percent, at 26,136.84, the S&P 500 was 4.99 points, or 0.18 percent, higher at 2,801.1 and the Nasdaq Composite added 14.11 points, or 0.19 percent, to 7,568.57.
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