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image: Mark Lennihan / Associated Press

US stocks, bonds hold steady ahead of Fed chief’s testimony

February 27, 2018

Via: ABC News

Stocks and bonds held relatively steady in early trading on Tuesday, and the Standard & Poor’s 500 index was wavering between small gains and losses.

Investors are waiting to hear from Federal Reserve Chairman Jerome Powell, who is scheduled to give testimony before Congress on monetary policy. In prepared remarks, Powell reiterated the central bank’s plan to raise its key policy rate at a gradual pace.

KEEPING SCORE: The S&P 500 slipped 2 points, or 0.1 percent, at 2,777, as of 10 a.m. Eastern time. It is coming off a three-day winning streak and is now down just 3.1 percent from its record high, which was set last month. The index had been down as much as 10 percent earlier this month.

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