- Stocks recover as Boeing (NYSE:) test flights lift airline
- drops as UK collapses by most in 40 years
- gains ground before Powell & Mnuchin testimony
- Last day of the best quarter for stocks in over a decade.
- CHART: Alibaba (NYSE:) shares rejects record high
Better US economic data and a rebound in Boeing shares has restored some optimism across stock markets. Asian markets gained after a late turnaround on Wall street and European shares are pointed higher early Tuesday. But while shares look firmer- so does the US dollar ahead of testimony from Fed Chair Powell and Treasury Secretary Steve Mnuchin.
Jay Powell today will say that the recovery path is “extraordinarily uncertain.” He has already testified recently at the semi-annual Humphrey Hawkins (NASDAQ:) so no big shocks are expected. Steve Mnuchin will say the “US is in a strong position to recover” and that depending on the outlook it’s possible the Treasury “will work…