U.S. stock markets needed some reassurance and Federal Reserve Chair Jerome Powell looks to have given it. Futures pointed to a continued rally early on Thursday after Powell suggested the central bank didn’t necessarily view tariffs as an obstacle to rate cuts.
Dow Jones Industrial Average futures were up 93 points, or 0.2%. S&P 500 futures were climbing 0.4% and Nasdaq 100 futures were gaining 0.5%.
Stocks were looking to build on gains made the previous day when the Fed kept rates steady at its March policy meeting and officials maintained a forecast for two interest-rate cuts through to the end of the year, with Fed Chair Powell suggesting inflation brought on by tariffs could prove to be transitory.
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