U.S. Stock Futures Are Higher And Possibly On Track For A Positive Weekly Close
U.S. stock futures are higher. Equity markets are expected to open higher and possibly on track for a positive weekly close. Chairman Powell stated the Fed’s commitment to fighting inflation while simultaneously trying not to provoke a recession and stayed fairly on message from his earlier testimony. U.S composite index, measuring both the manufacturing and services sectors, declined to 51.2 (June) from 54.8 (May) versus a consensus of 53. The 10y is holding steady at 3.11% slightly higher from its closing level of 3.09% and energy prices have declined and is interpreted as an encouraging signal to eventually lowering high inflation. European and Asian markets are trading higher.