Most markets rise ahead of powell testimony, US jobs data


Stock markets mostly rose Tuesday as traders geared up for this week’s release of key US jobs data and Federal Reserve chief Jerome Powell’s testimony to lawmakers.

His remarks will be closely followed for an idea about the central bank’s plans as it ramps up interest rates to quell inflation.

A recent run of figures has suggested the world’s top economy continues to run hot and inflation is not coming down as quickly as hoped, putting pressure on the Fed to keep hiking borrowing costs.

Several officials have lined up to warn that rates would have to go higher and be held there for some time.—APP