The S&P 500 confidently extended weekly gains by 2.3% on Wednesday after Federal Reserve Chair Jerome Powell said he sees current interest rates "just below" neutral. That proved to be a rally point because the language Mr. Powell used early last month indicated a view that the fed funds rate was "a long way from neutral." Meanwhile, the Dow Jones Industrial Average gained 2.5%, the Nasdaq Composite gained 3.0%, and the Russell 2000 gained 2.5%.
The following companies were scheduled to report earnings earnings this afternoon: BOX DSGX GBDC GES IIIV LZB SMTC TLYS VEEV.
Futures are nearly flat after hours: S&P 500 futures are -2 vs. fair value of 2,744 and Nasdaq-100 futures are -2 vs. fair value of 6,919.
Tomorrow morning, economic reports scheduled to be released include:
- 8:30: October Personal Income (Briefing.com Consensus +0.4% vs. +0.2% prior), Personal Spending (Briefing.com Consensus +0.4% vs. +0.4% prior), PCE Prices, Core PCE Prices, Initial Jobless Claims
- 10:00: October Pending Home Sales (Briefing.com Consensus +0.7% from +0.5% prior)
- 14:00: FOMC Minutes
The following companies are scheduled to report earnings tomorrow morning: AMWD ANF CM CMD DAVA DLTR EXPR HMLP KIRK PDCO TD TECD TITN YETI