US stock futures rise as Powell pushes back against rate hike
Investing.com-- U.S. stock index futures rose in evening deals on Wednesday after a whipsaw session on Wall Street as Federal Reserve Chair Jerome Powell warned that interest rates will remain high for longer, but dismissed the prospect of a rate hike.
Traders had steadily priced out expectations of any interest rate cuts by the Fed until at least the fourth quarter, and this remained the case after Wednesday’s meeting. While U.S. stocks welcomed the prospect of no more rate hikes, they are still likely to face pressure in the coming months as interest rates remain high. This notion spurred volatility in Wall Street on Wednesday, although benchmark indexes still ended above session lows.) set to report its earnings after the close on Thursday. While Apple is expected to see sustained weakness in its iPhone sales, focus will be largely on the tech giant’s plans for artificial intelligence.
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