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Wall Street Pauses Near Record Highs as Investors Await Powell’s Remarks
U.S. stock futures hovered close to record levels on Tuesday, with traders showing restraint ahead of a highly anticipated speech from Federal Reserve Chair Jerome Powell.
Dow Jones Industrial Average futures edged up about 0.2%, while contracts tied to the S&P 500 and Nasdaq 100 were little changed. The muted moves come after Wall Street notched a third straight day of record closes on Monday, fueled by optimism over artificial intelligence investments and expectations of further Fed policy easing.
Tech stocks remain in focus, with Nvidia’s $100 billion investment in OpenAI continuing to energize the sector. Meanwhile, Micron Technology is set to report earnings later today, offering fresh insight into AI-driven demand for semiconductors.
Investors are also eyeing Friday’s release of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, which could shape expectations for additional rate cuts before year-end. Gold prices, reflecting those bets, climbed to fresh all-time highs.
Powell’s midday comments are expected to provide clarity on the central bank’s outlook following its first rate cut of 2025. Markets are eager for signals on whether more easing lies ahead, a key factor underpinning the recent rally.
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