Hey, mooers! Here are things you need to know before the opening bell:
- Stock futures rose Tuesday, as Wall Street looked to rebound from a down session, while traders weighed Federal Reserve Chair Jerome Powell saying the central bank is open to higher rate hikes to combat rising inflation.
- Bringing down inflation and avoiding a recession will be a "challenging task," the central bank leader Jerome Powell said.
Market Snapshot
Stock futures rose Tuesday, as Wall Street looked to rebound from a down session, while traders weighed Federal Reserve Chair Jerome Powell saying the central bank is open to higher rate hikes to combat rising inflation.
U.S. stock futures edged up after Wall Street indexes ended lower following comments from Federal Reserve Chairman Jerome Powell that reiterated the central bank's commitment to rate increases to combat inflation.
Powell Says Fed Will Consider More-Aggressive Interest-Rate Increases to Reduce Inflation
Bringing down inflation and avoiding a recession will be a "challenging task," the central bank leader said.
BOJ's Kuroda Says Too Early to Discuss Monetary Easing Exit
Bank of Japan Gov. Haruhiko Kuroda said it is still too early to discuss details on how to exit from monetary easing because inflation is still below the bank's 2% target.
EU Support Grows for Russia Oil Ban
As Moscow pursues its invasion and with no peace deal in sight, European capitals consider a phased ban on Russian crude, a move that was once off the table.
Maryland, Georgia Pause Gasoline Taxes
Lawmakers across the U.S. are pushing to pause the collection of gasoline taxes to give drivers a temporary break at the pump as fuel costs hover near record highs.
SEC Floats Mandatory Disclosure of Climate-Change Risks, Emissions
A proposal would require public companies to provide estimates of direct and indirect greenhouse-gas emissions, including from suppliers and customers in some cases.
Alibaba to Buy Back Up to $25 Billion of Stock
$Alibaba (BABA.US)$boosted its share buyback program to $25 billion from $15 billion, in a bid to reassure investors about the company's prospects after a year in which its stock has fallen by more than half.
Canadian Pacific Railway, Union Agree to Arbitration, Ending Work Stoppage
$Canadian Pacific Railway (CP.US)$and the union representing its conductors and engineers agreed to shift stalled contract negotiations to binding arbitration, freeing the railway to resume freight shipments after a two-day work stoppage.
Okta Investigates Reports of a Digital Breach
Identity management software company$Okta (OKTA.US)$said it is investigating reports of a digital breach after hackers posted images they said were of the company's internal systems.
Anta Sports Profit Rises on Higher E-Commerce Contributions
$ANTA SPORTS PRODUC (ANPDY.US)$posted a stronger annual net profit amid higher contributions from its e-commerce business, the company said.
Nike Sales Rise as It Navigates Supply-Chain Snarls
The sneaker giant said consumer demand continues to outpace supplies across most of its markets, while logistics costs weigh on profit.$Nike (NKE.US)$