Wall Street futures rose Tuesday as traders waited for signs of interest rate plans from this week’s Federal Reserve conference, the Associated Press reports.
Wall Street’s benchmark S&P 500 index rose Monday for its first gain in five days as tech stocks rallied. Nvidia jumped 8.5% and Microsoft advanced 1.7%. Tesla rose 7.3% to recover some of last week’s 11% loss. Security software maker Palo Alto Networks jumped 14.8% for the biggest gain in the S&P 500.
Traders hope officials at the Fed’s summer Jackson Hole, Wyoming, conference say they are finished raising interest rates that are at a two-decade high, but forecasters warn they might say inflation isn’t under control yet.
Today on Wall Street, the S&P 500 future was up 0.3%, and the Dow Jones Industrial Average advanced 0.2%.
In energy markets, benchmark U.S. crude lost 29 cents to $79.83 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the price basis for international oil trading, shed 34 cents to $84.12 per barrel in London.
The dollar declined to 145.61 yen from Monday’s 146.11 yen.
