Futures muted after S&P's eight-day winning streak; Fed in focus
-U.S. stock index futures were muted on Tuesday, as bets on a September interest rate cut firmed ahead of the release of minutes from the Federal Reserve's latest meet and Chair Jerome Powell's speech at Jackson Hole later this week.and the Nasdaq extended gains to an eighth straight session on Monday, their longest winning streak so far this year, after a recent set of data raised optimism about the economic health, boosting expectations of a rate cut when the Fed meets in September.
As per a slim majority of economists polled by Reuters, the U.S. central bank will cut interest rates by 25 bps at each of the remaining three meetings of 2024, one more reduction than predicted last month. "This is probably the main market scenario currently priced in, which increases the possibility of an acute market reaction if Powell repeats his balanced view and fails to appear dovish."
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