Today should be quiet as investors take a wait-and-see attitude ahead of Jerome Powell's first testimony in a few hours before the Senate Banking Committee.

They are looking for clues about the interest rate and inflation outlook. If the Fed is looking at a 50 basis point hike this month instead of the expected 25 basis points, there should be signs in Powell’s speech.

Among individual stocks, Ashtead Group gained 2.7% after it forecast annual results above its estimates.

 

Things to read today:

UK House Prices Rise Most Since June, Halifax says (Bloomberg)

Hunt risks turbo-charging Britain’s decline with wrongheaded tax raid (Daily Telegraph)

Don’t just blame the regulator for London’s failed American dreams (Financial Times)