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Fed Chair Powell's Testimony in Focus on Wall Street



US Stock Exchange futures were slightly lower on Wednesday morning, when market participants eagerly anticipated comments from the world's most powerful central banks.

At 3:35 am, ET, Dow futures, scored 63 points, indicating a negative open of more than 64 points. Futures on S & P and Nasdaq were both slightly lower.

Market focus is largely aligned with the testimony of the Federal Reserve mayor Jerome Powell, with investors anxious to know if he will confirm or confuse expectations of US policy relief this month. 19659002] Over the next two days, Powell is expected to talk about reducing economic activity and increasing risks ̵

1; showing the Fed is ready to cut interest rates as needed.

However, Powell will also keep the markets – and White houses – guessing how soon and how deep the Fed intends to trim prices when it meets at the end of July. The current prospect, priced at the futures market, is for a 100% chance of a quarter-point key cut on July 31st.

Overnight in Atlanta, Fed President Raphael Bostic, said the US central bank discussed the risks and benefits of letting the world's largest economy run "a bit warmer."

At the data front, the wholesale figures for May will be released at 10:00 ET.

In business news, AngioDynamics and MSC Industrial Direct are both set to report

AAR, Bed Bath & Beyond, and PriceSmart are scheduled to release corporate results in the near market.

– CNBCs Patti Domm contributed to this report.


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