Tonight, Powell will once again face Congress.

As the U.S. stock market hits a new high, Powell will testify on Capitol Hill and face a "double squeeze" from both Democrats and Republicans. Democrats criticize the Fed for not lowering interest rates, while Republicans are dissatisfied with the new bank regulations that raise capital requirements. In addition, Powell's interpretation of the June non-farm and employment markets will also be a major focus.

wallstreetcn09:15

"Smart Money" accelerates the change of direction: Hedge funds are selling technology stocks and rushing into the energy and materials sectors at the fastest pace in five months.

However, materials and energy are still the least desirable industries for hedge funds to buy. Their long/short ratio is at or near its lowest level in five years.

wallstreetcn08:49

Is the continuous decline of Bitcoin indicating an imminent adjustment of the S&P 500 Index?

According to Dow Jones market data, bitcoin has fallen more than 23% since reaching an all-time high of $73,798 in March this year, but has still risen 33% year-to-date.

Zhitong Finance08:28

Futu Morning News | Hold Your Breath! Powell's Congressional Testimony Strikes Tonight; S&P Refreshes Highs for the 35th Time This Year, With Apple's Market Cap Back to the Top

The US Federal Reserve: Short-term inflation expectations of American consumers have fallen for two consecutive months, and expectations for house price increases have cooled. Biden issued an open letter emphasizing his firm candidacy and calling for party unity to defeat Trump. Key indicators warning of scarcity in the US financing market point to a recurrence of the 2019 cash shortage.

Futu News08:15

US Stock Futures Edge Higher as Powell Testimony Looms

U.S. stock index futures rose in evening deals on Monday as increased expectations for a September rate cut kept Wall Street buoyant before testimony from Federal Reserve Chair Jerome Powell and inflation data later this week.

Investing08:10

U.S. stocks closed with the S&P hitting a new high, Apple's market cap surpassing Microsoft, and Tesla having nine consecutive gains.

Taiwan Semiconductor and Arm both hit new highs, Nvidia rose nearly 2%, Intel and Super Micro Computer rose more than 6%.

wallstreetcn07:12