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The testimony of Fed Chair Powell focuses on Wall Street



US. Stock index futures were slightly lower Wednesday morning as market participants eagerly awaited comments from the world's most powerful central banker.

At around 03:35 ET, the Dow futures fell 63 points, indicating a negative open of more than 64 points. The futures on the S & P and Nasdaq were both slightly lower.

The market focus is largely aligned with the testimony of Federal Reserve Chairman Jerome Powell. Investors are eager to confirm or confuse the expectations of easing US policy this month. [19659002] Over the next two days, Powell is expected to talk about slowing economic activity and heightened risks ̵

1; showing that the Fed is ready to cut interest rates as needed White House – Guess when and how deep the Fed wants to lower interest rates when it meets at the end of July. The prevailing estimate, priced into the futures market, assumes a 100% likelihood of lowering the key rate by a quarter of a point on July 31st. Biggest economy runs "a little hotter".

At the data front, the wholesale numbers for May are published around 10:00 CET.

In corporate news, AngioDynamics and MSC Industrial Direct will report their most recent quarterly profit before the opening bell.

AAR, Bed Bath & Beyond and PriceSmart are expected to publish their results after the market closes.

– Patti Domm of CNBC contributed to the report.


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