Powell rattles markets, JOLTS and ADP, TikTok killer bill - what's moving markets

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📚 Daily Digest  |  Wednesday, Mar 8, 2023     Powell rattles markets, JOLTS and ADP, TikTok killer bill - what's moving markets   © Reuters. Jerome Powell returns to Capitol Hill for more testimony a day after rattling global markets with warnings that the Federal Reserve may step up the pace of rate hikes again. The comments pushed the dollar to a three-week high, two-year note yields to a 16-year high, and inverted the U.S. yield curve to a degree not seen since 1981. The ADP jobs report and the Labor Department's monthly survey of job openings are both due. U.S.-China relations continue to deteriorate as House Speaker Kevin McCarthy prepares to meet Taiwanese leader Tsai-Ing Wen. The Senate introduced a bill on Tuesday that could see video app TikTok banned in the U.S. on security concerns. And oil prices stabilize after plunging on Tuesday - with U.S. inventory data due at 10:30 ET. Here's what you need to know in financial markets on Wednesday, 8th March. Read More     Happy International Women's Day!   Help us celebrate the achievements of women in business by highlighting some of the most successful female entrepreneurs and CEOs       Today's Top News Stock Market Campbell Soup, Occidental Petroleum and WeWork rise premarket; Stitch Fix falls Stocks in focus in premarket trade on Wednesday, March 8th. Please refresh for updates. Campbell Soup (NYSE:CPB) stock rose 0.7% after the food... Economic Indicators ADP private payrolls rose 242,000 in February, adding to pressure on Fed The U.S. labor market is still refusing to slow down meaningfully. Private-sector payrolls grew some 242,000 in the month through mid-February,... Stock Market S&P 500 could plunge to 3200 in coming months, JPMorgan warns after Powell's speech The S&P 500 lost over 1.5% yesterday as Fed Chair Jerome Powell told the Senate Banking Committee that the terminal fed funds rate "is likely to be higher... Stock Market Regulators open probe into Tesla's Model Y following reports of steering wheels falling off The National Highway Traffic Safety Administration (NHTSA) announced Wednesday that they are opening a preliminary investigation into 120,000 Tesla Model Y 2023... Read More News » Today's Top Analysis     Mar 8, 2023 by Ismael De La Cruz/Investing.com Why You Need to Keep Investing in Stocks Despite the Challenging Outlook   by Ismael De La Cruz/Investing.com  |   Mar 8, 2023   Mar 8, 2023 by Michael Lebowitz Fed Needs to Speak Loudly Because It Carries a Small Stick   by Michael Lebowitz  |   Mar 8, 2023   Mar 8, 2023 by Ulrik Lykke Silvergate-Gate Sparks Crypto Contagion Fears   by Ulrik Lykke  |   Mar 8, 2023   Mar 8, 2023 by Michele Schneider Will the Market Internals Turn More Bearish?   by Michele Schneider  |   Mar 8, 2023 Read More Analysis »

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