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  • Wall Street’s main indexes struggle to build on Monday’s gains. 
  • Falling financial shares weigh on Dow Jones Industrial Average.
  • S&P 500 Technology Index posts modest gains in the early trade.

Following Monday’s impressive rally, major equity indexes in the United States opened on a mixed note on Tuesday. As of writing, the Dow Jones Industrial Average and the S&P 500 were down 0.6% and 0.3%, respectively, while the Nasdaq Composite was up 0.35%.

Eyes on Powell and Mnuchin

FOMC Chairman Jerome Powell and Treasury Secretary Mnuchin will testify in a hearing entitled “The Quarterly CARES Act Report to Congress” before the Senate Banking Committee on Tuesday. Investors seem to be opting out to move to the sidelines while waiting for this event.

Among the 11 major S&P 500 sectors, the Financials Index is down 1.25% and the Energy Index is losing 1.8% as the top-decliners. On the other hand, the Technology Index is up 0.3% to help the tech-sensitive Nasdaq stay in the positive territory in the early trade.