Dovish Fed lifts Wall Street stock futures to record high

SourceZawya
SectorFinancial Markets
CountryMiddle east

"As long as that message remains consistent and, more importantly, unified, that is going to have a bigger and bigger influence on yields," said Derek Halpenny, head of research for global markets at MUFG."That is what is key in the market at the moment, as rates appear to have reached some degree of equilibrium, and that is what is encouraging the equities market performance. I can't really see anything on the immediate horizon to upset that."U.S. Treasuries yields were down from their 14-month highs, although analysts said markets will be tested next week when the U.S. earnings seasons gets underway.The U.S.

weekly jobless claims data is due at 1230 GMT, and is expected to show the number of Americans filing for new unemployment benefits dropped in the latest week, a further sign the economy is recovering from COVID-19.Fed Chairman Jerome Powell speaks at 1600 GMT at an International Monetary Fund event and he is likely to reiterate the dovish outlook.There...read more...