Federal Reserve Chairman Jerome Powell has released his opening statements ahead of his Tuesday confirmation hearing. His remarks seem to mark an approaching shift in the central bank’s monetary policy for 2022.
Five supermajors plan to release earnings on Thursday & Friday and it's expected reports will show roughly $29 billion in free cash flow - the most since 2008. This could be due to a strong demand for crude, natural gas and chemical price surges, and a rebound in refineries.
An improving economy is normally expected to provide a rosier picture of company profits and economic activity. However, this Friday’s U.S. jobs report may have a different effect on investors, after recent comments by Fed Chair Jerome Powell.