An old-school Warren Buffett stock led the Dow higher on Tuesday, but the broader-based S&P 500 and the tech-heavy Nasdaq Composite struggled with more complicated questions about the potential impact of the Trump administration's emerging trade policy. It was indeed a cautious market as Federal Reserve Chair Jerome Powell essentially urged a little patience on the first day of his semi-annual visit to Congress.
"We do not need to be in a hurry to adjust our policy stance," said Federal Reserve Chair Jerome Powell in a statement prepared for his appearance before the Senate Committee on Banking, Housing, and Urban Affairs. Powell cited a "policy stance now significantly less restrictive than it had been" as well as "the economy remaining strong."
