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Market Update: US Stock Futures Edge Higher
US Futures lifted in overnight deals Monday, following strong gains in the previous session that saw the Dow Jones Industrial Average post its best day since March. Investors have been digesting a sharp shift in the Feds approach to managing the US economic recovery after the central bank signaled last week that it may raise interest rates twice by late 2023, Meantime, Fed Chair Jerome Powell, in prepared remarks ahead of a House hearing Tuesday, reiterated that the central bank will continue its supportive stance to ensure that the “sustained improvement” of the economy. Local 10-year bond yields lifted from 4-month lows to 1.497%. On Monday, the Dow rose 586.89 points, or 1.76%. The S&P 500 ended the day up 1.4% and the Nasdaq Composite rose 0.79%. [/s2If]
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