USB - Wall Street Poised To Rebound From Slump As Earnings Optimism Grows: Analyst Eyes This S&P 500 Level As Attractive Entry Point | Benzinga
U.S. stocks are priming for a firmer start on Wednesday, potentially striving to inflect higher from the weakness seen so far in April. As some bullish market watchers pointed out there could be an inflection from the second half of April, with earnings potentially serving as an upside catalyst.
Following Federal Reserve Chair Jerome Powell’s speech on Tuesday, most economists have dialed back expectations of rate cuts this year, as they began to bake in the possibility of the central bank staying higher for longer than expected. Against the backdrop, bond yields could also be on investors’ radar.
Futures Performance On Wednesday ( as of 6:50 a.m. EDT)
Futures Performance (+/-)
Nasdaq 100 +0.30%
S&P 500 +0.41%
Dow +0.46%
R2K +0.67%
In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) added 0.45% to $505.82, and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.31% to $432.44, according to Benzinga Pro data.
Cues From Previous Session:
Traders, wary about the possibility of no rate cuts, showed indecision on Tuesday. The major indices moved back and forth across the unchanged line ...