NEW YORK — The S&P 500 closed down slightly on Wednesday but well above its session low after testimonies to U.S. Congress from trade and central bank officials as well as President Donald Trump's former lawyer brought few major surprises. U.S. trade representative Robert Lighthizer told a congressional hearing the United States and China still had hard work ahead to settle their trade dispute in his first public comments since Trump announced a delay to Chinese import tariffs on Sunday. Federal Reserve Chair Jerome Powell told Congress the central bank would stop shrinking its $4 trillion balance sheet this year, ending a process investors say is at cross-purposes with its current pause on interest rate hikes. The S&P had drifted gradually higher after hitting a session low around 10.30 a.m. and swerved in and out of positive territory in afternoon trading.

Source: New York Times February 27, 2019 15:06 UTC