The Nasdaq hit an intra-day record high on Tuesday, lifted by Amazon, Microsoft and other top-shelf growth companies, while investors awaited remarks about the economic recovery from Federal Reserve Chair Jerome Powell.
In prepared remarks released late on Monday, Powell reiterated that recent high inflation was expected to prove temporary. The Fed chief was due to speak before Congress at 2 p.m. ET . GameStop jumped 5per cent after the videogame retailer said it raised over US$1 billion in its latest share offering, cashing in further on this year's Reddit-driven surge in its stock price.
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