Connect with us

Hi, what are you looking for?

News

U.S. Stock Futures Edge Up Ahead of Fed Minutes

U.S. Stock Futures Edge Up Ahead of Fed Minutes

U.S. stock futures ticked up Wednesday ahead of the release of the Federal Reserve’s latest meeting minutes and fresh data on the labor market.

Futures tied to the S&P 500 edged 0.1% higher, pointing to the broad market index inching back toward its recent all-time closing high. Nasdaq-100 futures climbed 0.6%, suggesting that the benchmark for large-cap technology stocks may climb for a fourth trading session.

Investors have propelled the major indexes into record territory following signs that the economy is recovering and that the Federal Reserve doesn’t plan to pull back on supportive policies in the near term. Government bond yields have also dropped to their lowest in over four months, bolstering appetite for assets like growth stocks that deliver higher returns.

“It is really the tech space that’s been driving the market,” said Esty Dwek, head of global market strategy at Natixis Investment Solutions. “Over the next few weeks and months, hopefully we’ll see that U.S. growth is holding up well, that will continue to support markets.”

Government bonds continued to rally, sending the yield on the benchmark 10-year Treasury note ticking down to 1.331% and extending its recent slide into a third day. On Tuesday, the yield fell to 1.369%, its lowest level since late February. Yields drop when bond prices rise.

You May Also Like

World

France, which has opened its borders to Canadian tourists, is eager to see Canada reopen to the French. The Canadian border remains closed...

Health

Kashechewan First Nation in northern Ontario is experiencing a “deepening state of emergency” as a result of surging COVID-19 cases in the community...

World

The virus that causes COVID-19 could have started spreading in China as early as October 2019, two months before the first case was identified in the central city of Wuhan, a new study...

World

April Ross and Alix Klineman won the first Olympic gold medal for the United States in women’s beach volleyball since 2012 on Friday,...