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The Treasury yield in the United States dipped fell before Federal Reserve Chairman Jerome Powell's Senate hearing.
At 5:00 a.m. ET, the yield on the benchmark 10-year Treasury note fell to 1.746 %. The 30-year Treasury bond yield fell to 2.073 %. Yields move in the opposite direction of prices, and one basis point equals 0.01 %.
Powell's Senate confirmation hearing is slated for 10 a.m. ET on Tuesday. The Senate hearing for Fed Governor Lael Brainard's nomination to the position of vice-chair of the central bank is scheduled for 10 a.m. ET on Thursday.
The consumer price index will be released on Wednesday and will show a 7.1 % year-over-year increase, according to Dow Jones forecasts.
The new year begins with more uncertainty about the Covid-19 pandemic. The omicron variety contributed to thousands of flight cancellations. For the first three weeks of January, several corporations have urged employees to work from home.
Stock Futures
Dow Jones Industrial Average futures advanced 0.39 % on Tuesday. The S&P 500 futures climbed 0.50 %, while the Nasdaq futures jumped 0.70 %.
Oil Prices
Brent crude futures, the global oil benchmark increased 1.37 % to $81.99 a barrel. WTI Crude oil prices gained 1.48 % to $79.39 per barrel.