U.S. stocks saw mixed results on Monday as investors evaluated earnings and the interest rate outlook following January's strong jobs report. S&P 500 closed 0.6% down, Nasdaq down 1%, while Dow Jones lost a modest 0.1%. Dell Technologies announced layoffs of 5% of its global workforce, with shares falling 3%. Meanwhile, Bed Bath & Beyond shares spiked 115%. Dollar rose for a third consecutive day, and WTI crude was up 1.4%. Despite Monday's dip, year-to-date the S&P 500 is up 7.7%, Nasdaq 14.7%, and Dow 2.4%. Fed Chair Powell speaks on Tuesday, with markets looking to see if his recent dovishness is intentional or accidental. Earnings season continues, with Walt Disney, Uber, PayPal, and PepsiCo in focus. S&P 500 earnings decline has grown larger than last week.
Q: What could be the impact on the stock market if Fed Chair Powell strikes a more hawkish tone in his address this week?
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