Investing.com – Stocks offered a day of gain for many tech stocks and a lot of waiting for Jerome Powell.
Powell, head of the Federal Reserve Board, will start two days of testimony before Congress Wednesday, and what everyone wants is a sense of whether the Fed really wants to cut interest rates this month.
As a result, the day ended up 0.1%. It was 0.1%, and the Nasdaq rose half healthy 0.5%.
The problem for and was that many big stocks that had hit the last highs retired, including Verizon Communications ] (NYSE :), Procter & Gamble (NYSE :), and Coca-Cola (NYSE :).
Soft-drink-and-soda maker PepsiCo (NASDAQ 🙂 shares slipped better than expected during the day after second quarter results.
Home Accessories Dealer Bed Bath & Beyond (NASDAQ 🙂 reports results after Wednesday's proximity. The shares have had a roller coaster ride this year to end the second quarter up 1
But big tech had a good day of gain for Apple (NASDAQ :), Amazon.com (NASDAQ :), Google parenting letter (NASDAQ 🙂 and Facebook (NASDAQ :). 19659004] Oil prices rose slightly during the day, and were barely higher. The yield is 2.061%, up 1.3%.
Powell's testimony will provide the first opportunity investors have had to hear their thinking after last week's job report for June, which showed that non-farm payrolls rise by a surprising 224,000, larger than expected 160,000. The report questioned whether the domestic economy is delayed, as the Fed has suggested in recent months.
Winners and losers among stocks
Technical companies Twitter (NYSE :), Amazon.com (NASDAQ 🙂 and Facebook (NASDAQ 🙂 were among the best S & P 500 artists of the day .  Oil giant Chevron (NYSE :), Communications giant Verizon Communications (NYSE 🙂 and American Airlines (NASDAQ 🙂 were among the worst S&P 500 artists.
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