REUTERS: U.S. stock index futures stabilized on Thursday as strong results from retailers bolstered confidence in consumer demand, while investors look ahead to Fed Chief Jerome Powell's speech for more clues on future interest rate moves.
The release of the minutes from the U.S. central bank's meeting on July 30-31 offered little clarity on Fed's next move. The policymakers were deeply divided over their quarter-point cut in rates but united in wanting to signal the move was not on a preset path to further cuts. President Donald Trump continues to press the Fed publicly to reduce rates, but many analysts say the U.S. economy is far further away from recession than some of its European rivals or than the bond market at times in recent months has suggested."The propensity for to disappoint investors is out there but he will likely use Jackson Hole to suggest that the Fed is ready to cut ," Hogan said.
Despite a staging a comeback from last week's bruising selloff, markets are still on course to end the month lower, mainly due to concerns over the U.S.-China trade war and its impact on growth.
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