U.S. stock futures rose on Friday, pushing the Dow to its eighth straight day of gains as investors waited for a parade of Fed speakers to test growing confidence that a rate cut is on the horizon.
Dow Jones Industrial Average (YM=F) futures rose about 0.3%, and S&P 500 (ES=F) futures also rose 0.3% after the index closed above $5,200 for the first time in a month. did. The number of contracts in the Nasdaq 100 (NQ=F), which has a high proportion of high-tech stocks, rose 0.4%.
The blue-chip Dow Jones Industrial Average rose as stocks recovered from April's slump, snapping its longest winning streak of the year. The rally was fueled by growing confidence that the Federal Reserve could cut interest rates sooner than expected given recent signs of a cooling labor market.
read more: How does the labor market affect inflation?
In light of this, investors will be listening closely to Friday's packed lineup of Fed speakers for further insight into the timing, pace, and likelihood of policy easing. Michelle Bowman, Neel Kashkari, Austan Goolsby and others are scheduled to appear.
Earlier, Atlanta Fed President Rafael Bostic said he expected a unilateral rate cut later this year, but officials said they would wait for more solid signals that price pressures were easing.・I agreed with Mr. Daly's wishes.
On the corporate side, shares of TSMC (TSM), a major Taiwanese contract semiconductor manufacturing company, soared after the company announced that its sales rose 60% in April. It was assessed that demand for AI is continuing, coupled with the revival of home appliances such as smartphones.
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