U.S. stock futures were trading steady to higher on Monday, as investors digest last week's remarks by Federal Reserve Chairman Jerome Powell and get ready...
U.S. stock futures were inching higher on Monday, with major indexes set to hold on to records set late last week after a dovish message from Federal Reserve Chairman Jerome Powell at the Jackson Hole symposium.
How are markets trading? On Friday, the Dow Jones Industrial Average DJIA, +0.69% rose 242.68 points, or 0.7%, to 35,455.80, the S&P 500 SPX, +0.88% advanced 39.37 points, or 0.9%, to a record 4,509.37, and the Nasdaq Composite Index COMP, +1.23% jumped 183.69 points, or 1.2%, to a record 15,129.50. The Russell 2000 index RUT, +2.85% climbed 63.17 points, or 2.9%, to 2,277.15.
“The main takeaway was that Powell is not in a rush to dial back asset purchases, with investors reading his vagueness as diminishing the chances of a September announcement,” said Marios Hadjikyriacos, senior investment analyst at XM, in a note to clients. The yield on the 10-year Treasury note TMUBMUSD10Y, 1.311% was easing back on Monday, down 1 basis point to 1.30%, though it rose 5.2 basis points last week, the biggest one-week gain since June 25. Gold GC00, -0.02%, meanwhile, was flat at around $1,818.20 an ounce.
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