Stocks Steady as Powell Signals Rates on Hold Despite Persistent Inflation

Dow futures rose slightly overnight along with S&P 500 and Nasdaq futures. Chip equipment giant ASML reports earnings Wednesday.

Fed chief Jerome Powell said inflation data shows lack of progress returning to 2% target. Signaled rates will stay put until inflation gets closer to 2%.

Major indexes shrugged off Powell's comments, remaining clearly below 50-day lines. However some leading stocks showed encouraging action.

Nvidia rose slightly but remains below key levels. Super Micro Computer surged, flashing a buy signal.

Tesla stock broke below 2024 lows amid continued unease about EV giant's strategy following big job cuts and other announcements.