Big Bank CEO's Testify to Congress and FOMC Minutes Released

Bank CEOs on Capitol Hill

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Wednesday, April 10. Major U.S. stock indexes advanced, with the Dow Jones Industrial Average seeing fractional gains and the S&P 500 and NASDAQ up 0.2% and 0.7%, respectively. The Federal Reserve dominated headlines, and Federal Open Market Committee minutes from its March meeting reflected cautious optimism and the likelihood of maintaining the 2.25% to 2.50% target rate through the remainder of 2019. Meanwhile, CEOs from several of the nation’s largest banks—including Bank of America, Citigroup, JPMorgan Chase and State Street—provided Congressional testimony related to financial sector regulatory efforts.

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