U.S. Futures Largely Flat; Powell Testimony in Focus

U.S. Futures Largely Flat; Powell Testimony in Focus

© Reuters.

By Peter Nurse   

Investing.com - U.S. stocks are seen opening largely unchanged Tuesday, consolidating after the previous session's powerful gains, with investors looking to Fed Chair Jerome Powell for guidance after last week's policy shift. 

At 7:05 AM ET (1205 GMT), the contract was down 10 points, less than 0.1%, traded flat, and climbed 20 points, or 0.1%.

The main equity indices bounced strongly Monday, recouping some of last week's Fed-inspired losses, with the blue-chip gaining nearly 600 points, or 1.8%, the broad-based rising 1.4% and the tech-heavy 0.8%.

However, activity is likely to be limited ahead of Powell's testimony before U.S. lawmakers in Congress, starting at 2 PM ET, as investors continue to adjust to the central bank's policy shift.

is set to repeat that inflationary pressures, although more marked than previously expected, will be transitory, while expressing optimism about the outlook for the labor market.  

Ahead of his appearance, investors will study the latest data, while the Federal Reserve Bank of Philadelphia will release its non-manufacturing business data and the Federal Reserve Bank of Richmond its monthly manufacturing survey.

In corporate news, Sanderson Farms (NASDAQ:)