It's Jim Kramer here. You're listening to the opening bell of CBC's Squawk on the Street.

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Good Tuesday morning. Welcome to Squawk on the Street. I'm Carl Kintaner with David Faber. Mike Santoli at the New York Stock Exchange. Kramer has the morning off. Dow Future Study after four days up in a row. Longest streak since January. Big day today. Chair Powell on the hill in front of Senate banking in about an hour. Yields have backed off a touch. Our roadmap begins with awaiting

the Fed chair, set to testify at the front of the committee on the state of the economy in the next

hour. Plus, it seems to be met his year of, let's call it, efficiency, the company reportedly

planning another large round of

layoffs that could be as soon as this week. And a consumer status check, Dick Sporting's

goods smashing same store sales expectations for the holiday quarter. Let's begin with

Jerome Powell. Headed to Capitol Hill today in about an hour. The Fed chair set to begin

to first of two days

of testimony on the economy appearing before Senate banking. Tomorrow he'll go before House

Financial Services. The watch is on to see what Powell might say about the road ahead for

inflation and interest rates. Of course, we'll bring you live coverage, including the Q&A

with lawmakers later this morning. Some people say maybe, Mikey,

wish he had the job's number in pocket instead of having to talk ahead of it. Yeah, you'd have

a lot more clarity in terms of what type of tone. Clearly, the street's on alert for Powell explicitly

opening the door to a larger half-point hike in a couple of weeks.

Not sure he wants to be too prescriptive about this, more or less to say, look, we have more to do.

The job's not done.

In the last meeting, they said it would be multiple hikes to come.

So, in other words, nobody's considering the last one to be the final one.

So it's a delicate one because there is some sign that January was to some small degree, at least an outlier in terms of the strength of the labor market.

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