Posted 3/7/2024, 11:52:38 AM
Stocks Edge Up as Investors Cautious Ahead of Jobs Data; Powell Signals Rate Hikes
- Major market indexes move higher as investors take wait-and-see approach ahead of Friday's jobs report
- Fed Chair Powell offers no major surprises in testimony, pointing to potential for 3-4 rate hikes this year
- Treasury yields decline slightly, with 10-year dipping to 4.08% and 2-year to 4.53%
- JOLTS quits rate falls to 2.1%, lowest since August 2020, signaling slowing wage growth
- Jobless claims unchanged at 217K last week, in line with estimates