Yahoo Finance Live anchors Julie Hyman and Josh Lipton outline the key events to watch on March 7th, 2024:
Federal Reserve Chair Jerome Powell will continue his testimony on Capital Hill, appearing before the Senate Banking Committee. Investors will closely monitor his comments for insights into potential Fed rate cuts.
Earnings are expected from several companies including Broadcom (AVGO), Costco (COST), and Kroger (KR).
Additionally, the consumer credit report for January is scheduled for release, providing further economic data for market participants to analyze.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Angel Smith
Video Transcript
JOSH LIPTON: Thursday, March 7th starting out with the Fed. Fed Chair Jerome Powell wrapping up two straight days of congressional testimony in the morning. Tomorrow he's going to be answering questions from the Senate Banking Committee. Powell taking a cautious stance on when the Fed will start cutting rates but did say he still expect it to happen later this year.
JULIE HYMAN: Moving over to earnings, a somewhat busy day on the calendar even as earnings season winds down. Broadcom, Costco, Kroger, Marvell Technology, and GAP, they all report tomorrow. Broadcom announcing first quarter earnings after the bell. The semiconductor giant has been on an absolute tear. The stock up about 20% to start the year and more than 50% over the last six months.
JOSH LIPTON: And taking a look at the economy, we're going to be getting more insight into the state of the consumer tomorrow afternoon with the latest consumer credit report. Economists expecting the number to jump for the month of January as the bills come due from holiday spending. This happening against the backdrop of the Biden administration seeking to impose a new limit on credit card late fees.
