U.S. stock futures slip as investors reassess hawkish remarks by Fed’s Powell
U.S. stock futures slipped Wednesday, as investors reconsidered hawkish comments from Federal Reserve Chairman Jerome Powell.
On Tuesday, the Dow industrials DJIA jumped 431.17 points, or 1.3% to 32,654.59, a third straight day of gains. The S&P 500 SPX climbed 2% to 4,088.85, and the Nasdaq Composite COMP jumped 2.8%, to end at 11,984.52. Stocks got a lift on Tuesday from better-than-expected retail sales data, as well as optimism over China’s fight against COVID and signs of easing lockdowns. Michael O’Rourke, chief market strategist at JonesTrading, pointed to another possible factor behind Tuesday’s rise —- a Bloomberg report discussing possibly bullish stock options activity.
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