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Market Update: US Futures Point to Gains at the Open
US futures were slightly higher on Wednesday, cautiously rebounding from the prior session’s losses, as investors continue to assess prospects for robust growth and get more confident the Fed would keep monetary policy accommodative in spite of rising inflation. Meanwhile, fresh jobless claims and PCE inflation due later in the week will provide an update on the labour market and price pressures. Ford shares were up 2% in pre-market trading after the automaker announced it is boosting spending on electric vehicles to $30 billion. Also, Nvidia, Workday, Williams-Sonoma and American Eagle Outfitters are due to report earnings after the close. On Tuesday, the Dow Jones fell 0.2% to 34,312 and the S&P 500 dropped 0.2% to 4,188 while the Nasdaq ended the session virtually flat at 13,657. [/s2If]
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