US stocks saw an increase on Tuesday as investors anticipated Federal Reserve Chairman Jerome Powell’s two-day testimony before Congress. Some of the notable premarket moves in US stocks included Intel, Nvidia, and Wonderful rising due to the popularity of AI-linked stocks. Amazon also saw a slight increase after announcing a new Echo Spot alarm clock. Pfizer’s shares rose after news of its chief scientific officer stepping down, while Eli Lilly’s shares increased following a data analysis comparing its Mounjaro treatment to Novo’s Wegovy. However, Lucid Group’s shares fell after a recall of its Air luxury sedans due to a software bug. Blood pressure ADRs also dropped after warning of lower refining margins and potential impairment. Helena of Troy saw a significant decline in shares after reporting disappointing first-quarter results and lowering its full-year outlook, specifically in its beauty and wellness business.
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