This Content Is Only For Paid Member
Stock futures are indicating a slightly higher opening on Friday, recovering from a surge in bond yields and a more hawkish tone from Federal Reserve Chair Jerome Powell that disrupted the extended winning streak of the S&P 500 and Nasdaq. The S&P 500 is up 0.2% in pre-market trading, Dow Jones Industrial Average futures show a 0.3% gain, and Nasdaq Composite futures remain relatively stable.
Focus remains on Powell’s messaging, describing the Fed’s policy as “restrictive” while underlining the possibility of further rate hikes amidst uncertain inflation outlook. Additional comments from Fed officials, including Lorie Logan, Raphael Bostic, and Mary Daly, are anticipated.
Bond yields, after a Thursday spike, have slightly retreated, with the benchmark 10-year yield dropping below 4.6%. Wall Street anticipates the release of the University of Michigan’s index, providing fresh insights into consumer sentiment.
In the commodities market, oil witnessed a second consecutive session of gains after recent concerns about global consumption. West Texas Intermediate crude futures rose to nearly $77 a barrel, and Brent crude futures traded above $81.
US stock futures ahead of Friday’s opening bell indicate positivity, with Dow futures leading at a 0.3% increase. S&P 500 and Russell 2000 futures are poised for gains around 0.2%, while Nasdaq futures show a modest 0.1% rise.
Investors are eyeing a market rebound after the termination of the longest winning streak in two years, triggered by a weak 30-year Treasury bond auction and comments from Fed Chair Jay Powell, leaving room for potential future rate hikes.
Title: Stock Futures Signal Modest Rise Despite Hawkish Fed; Market Awaits Consumer Sentiment Data
Summary: Stock futures are indicating a slightly higher opening on Friday, recovering from a surge in bond yields and a more hawkish tone from Federal Reserve Chair Jerome Powell that disrupted the extended winning streak of the S&P 500 and Nasdaq. The S&P 500 is up 0.2% in pre-market trading, Dow Jones Industrial Average futures show a 0.3% gain, and Nasdaq Composite futures remain relatively stable.
Focus remains on Powell’s messaging, describing the Fed’s policy as “restrictive” while underlining the possibility of further rate hikes amidst uncertain inflation outlook. Additional comments from Fed officials, including Lorie Logan, Raphael Bostic, and Mary Daly, are anticipated.
Bond yields, after a Thursday spike, have slightly retreated, with the benchmark 10-year yield dropping below 4.6%. Wall Street anticipates the release of the University of Michigan’s index, providing fresh insights into consumer sentiment.
In the commodities market, oil witnessed a second consecutive session of gains after recent concerns about global consumption. West Texas Intermediate crude futures rose to nearly $77 a barrel, and Brent crude futures traded above $81.
US stock futures ahead of Friday’s opening bell indicate positivity, with Dow futures leading at a 0.3% increase. S&P 500 and Russell 2000 futures are poised for gains around 0.2%, while Nasdaq futures show a modest 0.1% rise.
Investors are eyeing a market rebound after the termination of the longest winning streak in two years, triggered by a weak 30-year Treasury bond auction and comments from Fed Chair Jay Powell, leaving room for potential future rate hikes.
