U.S. Markets Resume Trading After the Holiday Weekend & Stocks Are Taking A Pause Following Last Week's Gains
U.S. stock futures are lower. U.S. markets will resume trading after the holiday weekend, and stocks are taking a momentary pause this morning following last week's substantial gains. Despite the hawkish commentary accompanying the Federal Reserve's decision to keep rates unchanged, the S&P 500 rose by an impressive 2.58%. In the bond market, treasury yields are holding steady. The economic calendar for the week is light, with the highlight being Fed Chair Powell's semi-annual Congressional testimony on monetary policy, which is scheduled to begin tomorrow morning. In global markets, Asian markets closed mostly lower as investors continue to react to the recent Chinese policy rate cuts. European markets, on the other hand, are experiencing mixed trading as they anticipate the release of UK inflation data tomorrow. Commodities, including Crude, Gold and agriculture futures are under pressure and trading lower. Concurrently, the U.S. Dollar is strengthening.