U.S. Futures, Stocks Steady Before Fed Testimony: Markets Wrap

U.S. Futures, Stocks Steady Before Fed Testimony: Markets Wrap

(Bloomberg) -- Stocks and U.S. futures were steady as investors weighed prospects for economic growth against inflation worries ahead of testimony from Federal Reserve Chair Jerome Powell. Oil retreated.

Contracts on U.S. equity gauges were little changed after the S&P 500 Index's biggest jump in a month. In Europe, declines in shares of carmakers and health-care offset gains in commodity sectors. A gauge of Asian equities rose the most in about three weeks, boosted by Japanese shares.

U.S. 10-year Treasuries steadied, while the dollar trimmed some of Monday's slide. Yields on longer-dated Treasuries rebounded in the U.S. session Monday, even as short-end rates remained anchored. That undid some of the curve-flattening that swept across markets after Fed officials last week accelerated their expected pace of policy tightening.