"Stock Market Rises with Labor Market Data and Powell's Return"

The Nasdaq, S&P, and Dow all saw gains as the market shrugged off caution ahead of the upcoming jobs report, with Nvidia nearing a $1 trillion market cap. Federal Reserve Chairman Jay Powell's return to Capitol Hill was met with relief as his remarks suggested a potential rethink of proposed bank regulation tightening, while Treasury yields remained relatively stable. The JOLTS quits rate fell to its lowest level since August 2020, and initial jobless claims for the week of March 2 remained unchanged at 217K.