Market Snapshot: U.S. stock futures inch higher ahead of Powell testimony

by | Mar 7, 2023 | Stock Market

U.S. stock futures were a touch firmer on Tuesday, though trading was muted ahead of testimony by Federal Reserve Chairman Jerome Powell.How are stock-index futures trading
S&P 500 futures
rose 9 points, or 0.2%, to 4061

Dow Jones Industrial Average futures
climbed 48 points, or 0.1%, to 33499

Nasdaq 100 futures
advanced 48 points, or 0.4%, to 12372

On Monday, the Dow Jones Industrial Average
rose 40 points, or 0.12%, to 33431, the S&P 500
increased 3 points, or 0.07%, to 4048, and the Nasdaq Composite
dropped 13 points, or 0.11%, to 11676.

What’s driving markets Markets remain focused on the prospects for monetary policy and consequently trading is muted ahead of Powell’s testimony to the Senate on Tuesday, due to commence at 10 a.m. Eastern. Powell will also be quizzed by the House on Wednesday, ahead of the always eagerly awaited official jobs data on Friday. “Investors are largely unwilling to take the plunge ahead of two vital indicators…with most markets treading water in the meantime,” said Richard Hunter, head of markets at Interactive Investor. “Federal Reserve Chairman Powell’s Congressional testimony and the nonfarm payrolls report are the undoubted high …

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