Wall Street bounces as Powell’s testimony brings some relief By Reuters – Investing.com

Wall Street bounces as Powell’s testimony brings some relief By Reuters – Investing.com

By Bansari Mayur Kamdar and Shreyashi Sanyal

(Reuters) -U.S. stock indexes reversed course on Tuesday as technology stocks recovered, with investors taking comfort in Federal Reserve Chair Jerome Powell's testimony to Congress not delivering any major surprises.

Powell said the central bank's plans to tighten monetary policy this year were not undercutting strong employment in an economy that "no longer needs or wants" massive stimulus.