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What Cramer is watching Tuesday — Fed fears rising, new dividend yields at Devon and Coterra

U.S. Federal Reserve Board Chairman Jerome Powell speaks during his re-nominations hearing of the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill, in Washington, U.S., January 11, 2022.
Graeme Jennings | Reuters

What I am looking at May 3, 2022

  • Fed worries: 10-year Treasury touches 3% on Monday, the 3-year gets almost 3%, which is a competitive piece of paper and presumes four rate hikes of 50 basis points. 
  • The Federal Open Market Committee starts its two-day policy meeting on Tuesday, with a statement on its decision on interest rates slated for release at 2 p.m. EST on Wednesday. Fed chairman Jerome Powell speaks at 2:30 p.m. that afternoon.