Wednesday, March 8, 2023

Stocks waffle on strong jobs data, Powell’s rate hikes

  • Stocks waffle on strong jobs data, Powell's rate hikes

    U.S. stocks ended a choppy session mixed as investors weighed the second day of testimony from Federal Reserve Chairman Jerome Powell which reinforced what will likely be more aggressive rate hikes, perhaps at the next meeting on March 22. Additionally, a stronger-than-expected ADP jobs report creates more headwinds for policymakers trying to cool the economy. In commodities, oil fell 1% to $76.66 per barrel.

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