(Please note that Powell is speaking before the Senate Banking Committee, not the House of Representatives.)

(Reuters) – The New York Stock Exchange opened slightly higher on Tuesday ahead of the Federal Reserve Chairman’s speech to the U.S. Senate at 1400 GMT and as semiconductor and technology stocks continued their rally from the previous day.

In early trading, the Dow Jones index gained 47.49 points, or 0.12%, to 39,297.30 points, and the broader Standard & Poor’s 500 rose 0.19% to 5,583.56 points, moving to historic highs.

The same goes for the Nasdaq Composite, which rose by 0.36%, or 65.80 points, to 18,469.54 points.

Federal Reserve Chairman Jerome Powell will address the Senate Banking Committee from 1400 GMT and his comments will be closely watched for signals on the path of US monetary policy ahead, particularly as data released on Friday showed the US jobs market appears to be slowing.

“We expect Jerome Powell’s Q&A comments to be balanced to slightly dovish, given the renewed progress on disinflation and signs that economic activity and employment are slowing, albeit gradually,” Unicredit analysts wrote in a note.

Markets are pricing in nearly a 74% chance of a 25 basis point cut at the Fed’s September meeting, up from less than 50% a month ago, according to the CME’s FedWatch barometer.

The consumer price index and producer price index to be released on Thursday and Friday respectively should help investors understand whether inflationary pressures in the world’s largest economy are easing.

In terms of values, Intel, Nvidia and Marvell Technology are still advancing between 1% and 3% after already significant gains the day before.

* For values ​​to follow, click on

(Written by Diana Mandiá, edited by Blandine Hénault)

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