Stock futures edged up as investors awaited cues on the Federal Reserve’s next steps to bolster the economy and a flurry of major earnings
By Joe Wallace Close Joe Wallace July 29, 2020 5:03 am ET U.S. stock futures edged higher Wednesday as investors awaited cues on the Federal Reserve’s next steps to bolster the economy, a flurry of earnings at major companies, and a congressional grilling of the biggest technology companies’ leaders.
The central bank is due to publish its decision at 2 p.m. ET, followed by a press conference by Chairman Jerome Powell. The Fed on Tuesday said it would extend emergency lending programs that had been set to run through September by an additional three months to keep propping up activity during the pandemic.
The dollar slipped ahead of the Fed’s decision. The WSJ Dollar Index, which tracks the U.S. currency against those of major trading partners, fell 0.3%, extending its decline this month to 3.1%.International markets were mixed. Stocks wavered in Europe amid a rush of quarterly reports, keeping the regional Stoxx Europe 600 largely flat. China’s Shanghai Composite Index advanced 2.1% by the close of trading, and Japan’s Nikkei 225 fell 1.2%.
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