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Stock market today: Dow set for rebound as rate-cut nerves settle

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Jerome Powell,US Stock Futures,The Federal Reserve

Focus is turning to the looming monthly jobs report after Fed Chair Jerome Powell didn't change his tune on rates.

US stock futures climbed on Thursday, setting the Dow up for a rebound as investors hunting for interest-rate clues shifted focus to the coming US jobs report. Dow Jones Industrial Average futures rose roughly 0.3%, coming off three losing days in a row for the blue-chip index. S&P 500 futures put on 0.3%, while contracts on the tech-heavy Nasdaq 100 popped about 0.4%, with both gauges building on closing gains.

By sticking to the same tune — that the Fed will cut rates this year, but will choose its moment given inflation's bumpy path downward — Powell appears to have put the debate to rest for now. Focus is now shifting to the March jobs report, due out Friday morning, a key economic input for the Fed's data-dependent policy decision-making. By and large, experts don't expect to see any sign of cracks in the strong US labor market story.

 

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