US stock futures inch higher as Wall St keeps rate cues in focus
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US stock index futures rose slightly in evening deals on Wednesday after Wall Street stemmed a two-day rout, although uncertainty over interest rates, especially ahead of key labor market data and Federal Reserve comments, kept any upside limited. S&P 500 Futures rose 0.07% to 5,270.0 points, while Nasdaq 100 Futures rose 0.13% to 18,396.50 points by 19:41 ET (23:41 GMT). Dow Jones Futures rose 0.03% to 39,494.0 points. Fed Chair Jerome Powell said that while the central bank still intended to cut interest rates in 2024, he did not specify the timing or scale of the potential cuts. Powell also said that sticky inflation and labor market strength will deter the Fed from any cuts in the near-term- sparking some questions over whether the central bank will have enough impetus to begin cutting rates in June. Wall Street indexes took little support from Powell’s comments, but did manage to somewhat stem a two-day rout, after the beginning of the second quarter sparked some profit-taking and dragged U.S. benchmarks away from record highs. More Fed speakers also on tap. But before the nonfarm payrolls data, addresses by other Fed officials are also due on Thursday.
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