U.s. stock futures slightly higher with inflation and yellen ahead by investing.com usd eur exchange rate

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Investing.com – Wall Street futures pointed to a slightly higher open on Thursday as investors looked ahead to the latest reading on inflation amid a slew of other data and waited for any indications from Federal Reserve (Fed) chair Janet Yellen on the future path of monetary policy.

The blue-chip Dow futures inched up 10 points, or 0.05%, by 6:58AM ET (11:58GMT), the S&P 500 futures edged forward 2 points, or 0.09%, while the tech-heavy Nasdaq 100 futures gained 14 points, or 0.29%.

On the data front, the focus will be on the consumer price index (CPI) for October released at 8:30AM ET (13:30GMT) with consensus looking for the annual inflation reading to hit a two-year high.

Of course, traders will also take account of continuing developments in the labor markets with the publication of weekly jobless claims, though the Fed seemed less concerned as “job gains had been solid” and most members considered the U.S.


economy to be at, or very close, to its mandate of maximum employment.

Also all released at 8:30AM ET (13:30GMT), market players will digest the October building permits and housing starts, along with the Philly Fed survey for the month of November.

Regardless, the main focal point for markets on Thursday will undoubtedly be Fed chair Janet Yellen’s testimony on the economic outlook before the U.S eur usd exchange rate forecast. Congress Joint Economic Committee at 10:00AM ET (15:00GMT) msn news usa english. Her prepared remarks are scheduled to be pre-released at 8:00AM ET (13:00GMT).

She will likely be asked how tax cuts or fiscal stimulus under President-elect Donald Trump could affect the economic and interest rate outlook.

Her comments will be monitored closely for any new insight on policy msn news breaking news. The Fed left interest rates unchanged earlier this month, in a widely expected decision, but signaled it could hike in December as the economy gathers momentum and inflation picks up.

Besides Yellen, New York Fed president William Dudley and Fed governor Lael Brainard, both voters on this year’s committee, will also be speaking at public events.

Markets are currently pricing an 85.8% chance of a rate hike at the Fed’s December 13-14 meeting, according to Investing.com’s Fed Rate Monitor Tool.

A rally in the U.S. dollar showed signs of fatigue early on Thursday, after the greenback hit its highest level in nearly 14 years against a basket of major currencies the day before, as U.S. bond yields pulled back from multi-month highs.

The dollar index was last down 0.35% at 100.03 by 6:58AM ET (11:58GMT), after climbing to 100.59 the day before, a level not seen since April 2003.

Additionally, the yield on the U.S. 10-year Treasury was down 2.2 basis points at 2.201% in early trade, pulling back from a 10-month high of 2.302% set earlier in the week.

The dollar’s rise moved in step with the surge in U.S. yields in recent sessions, as markets wagered that increased fiscal spending and tax cuts under a Trump administration will spur economic growth and inflation, which would ultimately lead to an era of higher interest rates.

On the earnings front, Wal-Mart (NYSE: WMT), Best Buy (NYSE: BBY) and Staples (NASDAQ: SPLS) were among companies scheduled to report before the opening bell, while Applied Materials (NASDAQ: AMAT) and Gap (NYSE: GPS) were some of the firms to publish after the close.

Saudi Energy Minister Khalid al-Falih showed optimism on Thursday that OPEC would formalize a preliminary oil output deal reached in Algeria in September.

“I’m still optimistic that the consensus reached in Algeria for capping production will translate, God willing, into caps on states’ levels and fair and balanced cuts among countries,” he told Saudi-owned Al-Arabiya TV.

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