U.S. stock futures were firmer, leaving the S&P 500 on course for its highest open in 14 months, as traders awaited confirmation that the Federal Reserve's...
U.S. stock futures were firmer, leaving the S&P 500 on course for its highest open in 14 months, as traders awaited confirmation that the Federal Reserve’s rate-hiking campaign was on hold.
How are stock-index futures trading On Tuesday, the Dow Jones Industrial Average DJIA rose 146 points, or 0.43%, to 34212, the S&P 500 SPX increased 30 points, or 0.69%, to 4369, and the Nasdaq Composite COMP gained 111 points, or 0.83%, to 13573. Consequently, it is the text of the Fed’s accompanying statement and Powell’s subsequent comments that are more likely to drive trading later in the session.
Furthermore, the CBOE VIX index VIX , a measure of expected S&P 500 volatility that tends to spike when equities fall swiftly, was trading around 14.6, close to recent three-year lows. Even normally bullish analysts were alert to the possibility of stocks dipping in the short term, particularly if Powell was seen stressing that a rate-hike pause did not necessarily mean borrowing costs had peaked for this cycle.
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