On Friday, the Dow Jones Industrial Average is up by over 250 points as the broader market rallies from a recent decline in bond yields. On the second day of his semiannual economic testimony on Capitol Hill, Fed Chair Jerome Powell says that the central bank’s commitment to bringing down inflation is unconditional. However, a day earlier, Powell told the Senate Banking Committee that the Fed was not trying to tilt the economy into a recession, but that was a possibility. Shares of CarMax (NYSE: KMX) are up by over 5% on today’s opening bell after beating estimates with a quarterly earnings per share of $1.
