The U.S. stock futures gained on Friday as investors assessed the comments from Fed Chair Powell and awaited additional earnings figures.
- The S&P 500 futures increased by 0.16% on Friday after declining slightly by 0.33% on Thursday. Nasdaq 100 futures were up 0.16% and Dow Jones futures jumped by 0.18%.
- The earnings season is a full throttle, with financial giant Charles Schwab expected to release their earnings on Friday. Luxury fashion retailer Burberry recorded positive recovery in sales in the first half of 2021.
- Investors will keep an eye for Fed Chair Powell’s comments on his second consecutive day of testifying before the congress.
- Powell was surprised with the strength of inflation rates. Inflation increased sharply to a 13-year high of 5.4% year-on-year in June.
Investors remain puzzled by the fall in yields at a period when inflation has surged globally eroding the value of bonds’ fixed payments.
EUR USD slips -0.08%, DJI gains +0.059%
Source: Markets Insider.