Dow Jones Futures Positive Keep an eye on “Powell's” report tonight: InfoQuest

Dow Jones index futures rose as investors mr. Jerome Powell, chairman of the Federal Reserve (Fed), is watching for a statement to Congress tonight.

As of 6:12 p.m. Thailand time, the Dow Jones futures index was up 41 points, or 0.1%, at 39,691 points.

Powell is scheduled to deliver his semi-annual report on US monetary policy and economic conditions to the US Senate Banking Committee today. before addressing the House Financial Services Committee tomorrow

The two-day report will be held at 10:00am US time or 9:00pm Thailand time and precedes the central bank's monetary policy meeting on July 30-31.

CME Group's FedWatch tool says investors expect the central bank to cut interest rates twice this year, first in September. before the central bank cut again in December.

Additionally, investors keep an eye on inflation figures. The US Department of Labor publishes the Consumer Price Index (CPI), which measures inflation from consumer spending. For June, this Thursday.

The results of a survey of analysts showed that the headline CPI index, which includes food and energy categories, rose 3.1% in June from 3.3% in May.

On a monthly basis, the general CPI index is expected to have risen 0.0% in June or 0.1% after being unchanged in May.

As for the Core CPI Index (Core CPI), it does not include food and energy categories. Year-on-year growth is expected to increase to 3.4% in June and 3.4% in May.

On a monthly basis, the core CPI index is expected to have risen 0.2% in June from 0.2% in May.

By InfoQuest News Agency (09 July 2024)

Tags: dow jones futures, stock market, new york stock market, wall street stock market, us stock market

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