Markets Are Steadying This Morning After Yesterday's Lower Close
U.S. stock futures are higher. Markets are steadying this morning after yesterday’s lower close in reaction to Day One of Chairman Powell’s congressional testimony. Powell signaled that rates may be higher for longer, increasing expectations for a 50 basis point rate hike at the FOMC meeting later this month. Day Two of the congressional testimony will begin this morning after the opening bell. Yields are ticking lower. The US dollar is unchanged, Gold and Crude are trading lower. European markets are mostly higher in midday trading and Asian markets closed mostly lower.