Posted 3/7/2024, 1:45:00 PM
Stocks Rise Ahead of Powell Testimony, Jobs Data; Fed Rate Outlook in Focus
- U.S. stock futures are rising as investors await more testimony from Fed Chair Jerome Powell about interest rates and inflation outlook
- Key economic data coming up include weekly jobless claims today and the February U.S. jobs report on Friday
- Powell will testify again before the Senate Banking Committee, with investors analyzing remarks for rate cut timing
- The European Central Bank will announce a monetary policy decision, expected to keep rates steady
- Major indexes near record highs but recently pressured by shifting Fed rate expectations; stocks broke 2-day losing streak Wednesday after Powell testimony