European markets muted ahead of Fed Chair Powell's Congress testimony

The pan-European Stoxx 600 trading at a flatline, with tech stocks slid 0.7% whie, oil and gas stocks climbed on rising commodity prices while.

Jun 22, 2021 03:06 IST India Infoline News Service

European stocks were mixed on Tuesday morning as investors awaited Federal Reserve Chairman Jerome Powell's testimony to Congress on the central bank’s response to the coronavirus pandemic.

The pan-European Stoxx 600 trading at a flatline, with tech stocks, slid 0.7% while, oil and gas stocks climbed on rising commodity prices while.

European Central Bank President Christine Lagarde gave markets a boost on Monday by offering an optimistic outlook for the euro zone economy and noting that the bloc is “clearly in a different situation” to the U.S. with regard to inflation.

Meanwhile, the 10-year U.S. Treasury yield rose to 1.50%. Powell is set to speak before the House Select Subcommittee on Coronavirus Crisis at 2 p.m. ET.

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