U.S. Stock Futures Are Higher With All Three Indexes Up This Morning
U.S. stock futures are higher: All three major indexes are up this morning with the Nasdaq relatively higher. Chairman Powell was confirmed by the Senate to a second term and reiterated that a measured 50 bps increase is more likely and hence pushed back on renewed fears on a higher interest rate increase. Additionally, Powell stated that the primary goal is drive down inflation to 2% and he can’t promise a so called “soft landing”. Higher treasury yields are the primary concern for most investors and has led to a broad sell off in riskier assets, such as cryptocurrency. Bitcoin is trading above $30,000 in early morning but other cryptocurrency markets are trending lower. Treasury yields inched higher but remained under 3% and the curve has flattened over the last week. Global markets are rebounding along with U.S markets.