Wall Street pauses as Powell testimony looms

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Reuters

By Devik Jain and Medha Singh (Reuters) – Wall Street’s main indexes were little changed on Tuesday, as investors awaited Federal Reserve Chair Jerome Powell’s remarks for clues on how the central bank is balancing inflation risk with its promise to ensure a full jobs market recovery. In a bright spot, Amazon.com Inc gained 0.8%, among the top boosts to S&P 500 and the Nasdaq, as it entered the second day of its multibillion-dollar online sales event, Prime Day. In his prepared remarks released late Monday afternoon, Powell said inflation has “increased notably in recent months” but regarded t…

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