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Stocks Hold Steady On Mixed Fed Remarks, First Solar Rallies, Bitcoin Falls Below $70,000: What's Driving Markets Tuesday?

It’s a rather quiet session on Tuesday, with major U.S. averages trading around the flatline at midday trading in New York. Traders remained on the sidelines ahead of Wednesday’s Federal Open Market Committee (FOMC) meeting minutes and Nvidia Corp. (NASDAQ:NVDA) earnings report. Tuesday saw Federal Reserve officials making public statements with mixed messages. Atlanta Fed President Raphael Bostic said he expects inflation to decline but at a slow pace, and he does not foresee a rate cut before the fourth quarter. Board member Christopher J. Waller, on a more dovish note, said the risk of inflation reaccelerating is off the table and he does not expect a rate hike. Sectors and industries were little moved, with financials and solar stocks slightly outperforming. Small caps softened, with the iShares Russell 2000 ETF (NYSE:IWM) falling 0.3%. Treasury yields inched lower, with the benchmark 10-year yield dropping 4 basis points ...