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Investing.com — U.S. stock futures stagnated Thursday, struggling to keep a multi-day rally going ahead of comments from Federal Reserve Chair Jerome Powell, which could provide guidance on future monetary policy.
By 06:20 ET (10:20 GMT), the contract was up 65 points, or 0.2%, traded 6 points, or 0.1%, higher, while dropped 7 points, or 0.1%.
Wall Street’s benchmark indices traded narrow ranges on Wednesday, with the broad-based finishing up just 0.1%. However, this marked its eighth consecutive up day, its longest winning streak since 2021. The tech-heavy also gained 0.1%, a ninth winning day, while the 30-stock slipped by 0.1%, breaking a run of seven positive days.
Powell returns to the spotlight
Trading is expected to be muted again Thursday as investors await comments from a slew of Fed speakers, including a speech from Fed boss at a conference in Washington D.C. later in the session.
A degree of confidence has returned to Wall Street on hope that the Fed’s prolonged tightening cycle is now done, with some traders having started to factor the probability of a rate cut coming in the first half of next year.
However, some Fed officials have…
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