As the week of March 6th, 2023 begins, investors are keeping a close eye on the stock market as Treasury yields rise slightly ahead of key economic data and the testimony of Fed Chair Jerome Powell. Powell’s remarks could lay the groundwork for a potential sell-off in the tech sector, according to analysts.
On Wall Street, gains have been pared back as traders await Powell’s testimony and the upcoming jobs report. CNBC’s Monster Stock Market Commentary has released seven predictions for the week ahead, which will likely be heavily influenced by Powell’s comments and economic data.
Investors are also preparing for economic data releases, which will shed light on the overall health of the economy. The week will include reports on manufacturing, inflation, and consumer spending.
Overall, the week ahead is expected to be heavily influenced by Powell’s testimony and the economic data, which could signal shifts in the stock market. Investors will be closely monitoring developments to determine whether they should adjust their positions in the market.