Stocks Set to Rise Ahead of Jobs Data; Bank CEOs Testify to Senate
• US stock futures rise ahead of ADP private payrolls data, which will give clues about the health of the labor market and potentially influence the Fed's policy direction • Markets are pricing in multiple Fed interest rate cuts in 2023, but some strategists believe these bets look overdone • Bitcoin briefly surged past $44,000, continuing a 6-day winning streak, as retail investors bet on rate cuts and upcoming spot bitcoin ETFs • CEOs of major banks like JPMorgan, Goldman Sachs, and Bank of America will testify before a Senate committee today • The text provides the latest stock market news and analysis around events influencing stock prices