Here’s what we’re watching as the markets start operating on Tuesday.
–US stock futures fell while investors awaited the testimony of Federal Reserve Chairman Jerome Powell at Congress on the health of the economy.
Futures linked to the S&P 500 fell 0.5%. The benchmark stock indicator fell on Monday for the fifth consecutive day, its longest losing streak since last February. Contracts for the Nasdaq-100 fell 1.6%, suggesting that technology stocks will continue to lead the bear market. Read our complete market package here.
What’s coming
–Gains are due Macy’s ahead of the opening bell. Toll Brothers and XP will make updates after closing.
—Fed President Jerome Powell will testify before Congress at 10 am ET, presenting an overview of the economy and monetary policy. It is the beginning of a two-day testimony on Capitol Hill. See the live broadcast here.