US futures pushed higher in the wake of positive closes for the S&P 500 and Nasdaq 100. S&P 500 futures rose 0.94%, while Nasdaq 100 futures rose 1.04%.
Angst ahead of Powell’s comments due Friday is centered on whether he will rebut expectations that slowing growth will temper US monetary tightening in the next phase of the campaign against high inflation.
Treasuries held a slide and the two-year yield remained in sight of 3.40%. A dollar gauge dipped. Crude oil added to a rally that could feed into renewed jitters about whether price pressures have peaked.
Fed officials in the run-up to Jackson Hole have been clear they see more monetary tightening ahead, a message that’s eroded a bounce in stocks and bonds from mid-June troughs. The tension in markets is whether those assets will continue to head back toward the lows of the year.
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