US futures signal more gains after Wall Street logs its second best day of the year

U.S. stock index futures were slightly higher on Wednesday morning, after Wall Street delivered its second best day of trade for 2019 in the previous session.

At 3:00 a.m. ET, Dow futures were up 34 points, pointing to a higher open of more than 43 points. Futures on S&P 500 and Nasdaq were higher too.

On Wednesday, stocks in the Asia-Pacific region climbed, building upon gains seen in the U.S., where the Dow Jones Industrial Average soared by more than 500 points and other stocks finished the session on a high. The uptick in trading came on the back of comments from Federal Reserve Chair Jerome Powell who signaled that the central bank was open to easing monetary policy.

On Tuesday, Powell stated that the Fed would be keeping an eye on current developments in the economy, and would do what it must do, in order to “sustain the expansion. ” Powell did, however, note that the central bank could not determine when or how global trade issues would be settled.


— RECOMMENDED —

Learn How You Could DOUBLE or TRIPLE Your Account in One Week!

Find Out How With The #1 Selling Trading Guide: Now Yours For FREE!


Meanwhile, trade turmoil continues to shake up market sentiment. During his state visit to the U.K., President Donald Trump doubled down on his recent tariff threat on Mexico, telling reporters that his new policy would “take effect next week. ”

GOP senators have, however, indicated that they do not agree with the 5% levy on all Mexican imports. Consequently, trade tensions and negotiations are expected to remain a hot topic for the foreseeable future.

Meanwhile on the earnings front, Brown-Forman, Campbell Soup, Cloudera, Five Below and MongoDB are set to report on Wednesday.

In terms of economic data, investors will be watching ADP employment numbers at 08:15 a.m. ET, followed by a services PMI at 09:45 a.m. ET and an ISM non-manufacturing index at 10 a.m. ET.

Source: cnbc.com | Original Link

Leave a Reply