Stocks Rally Stalls, Eyes Powell Testimony for Rate Clues

Stocks Rally Stalls, Eyes Powell Testimony for Rate Clues
A man reads a magazine in front of a stock index board at a bank in Bangkok, Thailand, on Oct. 17, 2016. Edgar Su/Reuters
Reuters
Updated:

LONDON, SYDNEY—Global shares drifted on Monday, consolidating gains after hitting a 14-month high last week, as investors awaited testimony from U.S. Federal Reserve Chair Jerome Powell in markets that remain dominated by monetary policy bets.

The MSCI’s broad gauge of world stocks was steady, with Wall Street markets closed for the Juneteenth holiday.