Federal Reserve Chair Jerome Powell is scheduled to deliver his semi-annual monetary policy testimony before the House Financial Services Committee at 10 am ET.

Also at 10 am ET, the Commerce Department is due to release its report on wholesale inventories in the month of May. Wholesale inventories are expected to increase by 0.6 percent.

The Energy Information Administration is due to release its report on oil inventories in the week ended July 5th at 10:30 am ET.

Crude oil inventories are expected to decrease by 3.0 million barrels after plunging by 12.2 million barrels in the previous week.

At 1 pm ET, the Treasury Department is scheduled to announce the results of this month’s auction of $39 billion worth of ten-year notes.

Chicago Federal Reserve President Austan Goolsbee and Federal Reserve Board Governor Michelle Bowman are due to give opening remarks before a Fed Listens event at 2:30 pm ET.

At 7:30 pm ET, Federal Reserve Board Governor Lisa Cook is scheduled to speak on “Global Inflation and Monetary Policy Challenges” at the 2024 Australian Conference of Economists.