In a hearing on Capitol Hill, Federal Reserve Chairman Jerome Powell told lawmakers the central bank is likely going to cut rates "at some point" in 2024, but that policymakers still want more data before making a move. On Wall Street, shares of New York Community Bancorp (NYCB) plunged more than 40% before announcing it was receiving a more than $1 billion investment from a group of investors, anchored by former Treasury Secretary Steven Mnuchin's Liberty Strategic Capital. Trending tickers on Yahoo Finance include Palantir Technologies (PLTR), JD.com (JD), and Foot Locker (FL).

Top guests today include:
3:05 p.m. ET - Seth Carpenter, Morgan Stanley Chief Global Economist
3:15 p.m. ET - Fran Horowitz, Abercrombie & Fitch CEO
4:05 p.m. ET - Steve Laipply, BlackRock Co-Head of Bond ETFs
4:15 p.m. ET - Sen. Cynthia Lummis (R-WY)