Investors are anxiously bracing themselves for the release of the February U.S. Jobs Report this coming week, along with the semi-annual testimony by Federal Reserve President Jerome Powell on Capitol Hill. This comes after the S&P 500 and the tech-heavy Nasdaq Composite wrapped up last week’s trading at all-time record levels.
During Powell’s address to the U.S. House and Senate on Wednesday, the Fed president is expected to provide an update on the state of the U.S. economy as well as the status of the central bank’s fight against inflation. Investors will also be on the lookout for clues as to when the Fed will consider implementing interest rate cuts.
February’s jobs report is expected to show that 190,000 nonfarm payrolls were added for the month, with unemployment expected to remain at a level of 3.7%, constant with January’s figure.