However, the big focus this Tuesday is on the Fed. Jay Powell will give a testimony at 8:45 a.m. ET. This comes just after a stronger-than-expected jobs report raised questions about the central bank’s rate policy.
Traders have priced in a 100% probability of a Fed rate cut in July, according to the CME Group’s FedWatch tool. However, expectations for a more aggressive cut were tempered by the jobs data released Friday.
Furthermore, a new NFIB survey will be out at 6 a.m. and a new JOLTS report will be released at 10 a.m. ET.