Stock futures are on the rise on Wednesday morning, following a steep sell-off in the previous session. Investors are eagerly awaiting Federal Reserve Chairman Jerome Powell’s testimony to Congress later in the day. This comes as concerns about rising inflation and its potential impact on monetary policy continue to weigh on the markets.
Investors were caught off guard this week as Federal Reserve Chairman Jerome Powell’s testimony and the latest jobs report pushed back expectations of rate cuts. The stock market rallied in anticipation of a cut, but now faces uncertainty as traders reassess their strategies.
The February jobs report is set to be released this week, providing a crucial update on the state of the labor market in the United States. Economists are closely watching to see if the job market continues to recover from the impact of the pandemic.
