Business U.S. stock futures advanced on Thursday, a day after Wall Street’s main indexes touched new highs after dovish comments from Federal Reserve chairman Jerome Powell cemented the case for an interest rate cut this month. 11 Jul 2019 07:40PM Bookmark REUTERS: U.S. stock futures advanced on Thursday, a day after Wall Street’s main indexes touched new highs after dovish comments from Federal Reserve chairman Jerome Powell cemented the case for an interest rate cut this month.Traders now see a one-in-three chance of a 50 basis point rate cut at the July 30-31 meeting. Such bets had nearly dissipated after a strong June jobs report on Friday.In the first day of testimony before the Congress, Powell said the U.S. economy is still under threat from disappointing factory activity, tame inflation and a simmering trade war. His two-day testimony resumes at 10:00 a.m. ET on Thursday.Hopes that the Fed would step in to cushion any hit to a record U.S. economic expansion have helped Wall Street’s main indexes resume their rally after a slump in May.The benchmark S&P 500 has climbed about 19per cent this year and crossed the 3,000 point mark for the first time. The blue-chip Dow has risen… Read full this story
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