Daily market update 

Moya. “It doesn’t seem like any economic data release or Fed speak will convince markets that a downshift from this aggressive tightening campaign will be happening anytime soon.”

Looking ahead, traders are anticipating the release of personal consumption expenditures data, the Fed’s preferred inflation gauge, on Friday. Durable goods and consumer sentiment numbers will also come out this week.

A slew of Fed speakers — including Fed Vice Chair Lael Brainard, St. Louis Fed President James Bullard, San Francisco Fed President Mary Daly and Fed Governor Michelle Bowman — and Chair Powell are also scheduled to speak at various events this week.