Stock futures slipped on Tuesday as wary investors eyed potential headwinds for the recent rally with markets set to resume after a holiday break.
Worries about the health of China’s economy, the second-biggest in the world, persisted as Beijing’s latest cut to a key lending rate fell short of hopes.
Markets are also bracing for Fed Chair Jerome Powell’s two-day testimony to a House committee to start Wednesday, watching for any clues to whether policymakers will resume their rate-hiking campaign in July. A clutch of Fed officials are lined up to speak Tuesday.
Ahead of the bell Tuesday, futures on the S&P 500 (^GSPC) were down about 0.5%, while those on the Dow Jones Industrial Average (^DJI) fell 0.4%, or about 140 points. Futures on the Nasdaq Composite (^IXIC) paced losses, dropping 0.6%.
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Source: https://finance.yahoo.com/news/stock-market-news-live-updates-today-june-20-2023-104226173.html