International stocks broadly rose in the absence of fresh news about inflation and interest rates, while U.S. markets were closed for the Juneteenth public holiday.
Stocks and bonds have been pummeled globally this year. Driving the selloff are the push by the Federal Reserve and other central banks to quell inflation, and concerns that higher borrowing costs will tip economies into recession.
This week, investors will parse comments from Fed Chairman
Jerome Powell
to Congress on Wednesday and Thursday. They will seek clues about the chances of a second consecutive three-quarter-point increase to interest rates in July. Data on housing, manufacturing output and consumer sentiment will help traders assess the strength of the economy, while inflation runs at its highest rate in more than 40 years.
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