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U.S. futures traded higher ahead of the opening bell on Wednesday.
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It appears the S&P 500 and Nasdaq will end their losing streak after aggressive comments from the Fed.
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Brent crude oil prices held steady as investors await Israel’s response to this weekend’s Iranian drone attack.
U.S. futures appeared to open higher after a day of aggressive comments from Fed officials on Tuesday.
S&P 500 futures rose 0.22% shortly before 5 a.m. ET, while Nasdaq 100 futures rose 0.12%. Dow Jones Industrial Average futures rose 0.33%, in line with Tuesday’s gain that snapped a six-day losing streak.
The S&P 500 and Nasdaq both closed lower on Tuesday, marking the third straight day of declines for both indexes.
Brent crude oil fell 0.36% in pre-market trading. Prices shot up to more than $90 a barrel last week in anticipation of Iran’s attack on Israel, but have fallen as traders continue to wait for Israel’s response.
Ten-year government bond yields fell slightly on Wednesday after rising to the highest level in five months. Fed Chairman Jerome Powell’s aggressive comments on interest rate cuts had caused the rise in yields.
He hinted at further delays and said it would take “longer than expected” for the Fed to feel confident in curbing inflation.
Fed Vice Chairman Philip Jefferson added that “if incoming data indicate that inflation is more persistent than I currently expect, it will be appropriate to maintain the current restrictive policy stance for longer” and revive hopes for rate cuts. temper. .
The Fed will release the Beige Book – an indicator of regional economic conditions – later on Wednesday.
The American Bancorp reports quarterly figures, as does transport and real estate giant CSX.
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