U.S. equity futures nudged modestly lower Wednesday, following on from the longest winning streak for major stock benchmarks in more than two years, as markets continue to track moves in Treasury bond yields ahead of public remarks from Federal Reserve Chairman Jerome Powell prior to the opening bell.
The downside Treasury yield moves, which typically result in higher stock prices, also leaned in to a series of comments from Federal Reserve officials that suggested the economy was strong enough, and inflation quick enough, to possibly warrant another rate hike. Fed Chairman Jerome Powell could challenge that consensus with public remarks to the Division of Research and Statistics conference in Washington and 9:15 am eastern time today, but is more likely to be more pointed in a policy discussion at the Jacques Polak Annual Research Conference tomorrow afternoon at 2:00 pm eastern time.
On Wall Street, with earnings from Warner Bros Discovery and Biogen before the bell, and Disney after the close, stocks are set for a muted open following last night's closed gains.
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