- June 23, 2021
- Posted by: Stratford Team
- Category: Business
- Futures up: Dow 0.18%, S&P 0.10%, Nasdaq 0.15%
June 23 (Reuters) – Futures tracking the Nasdaq 100 index hit a record high on Wednesday with investors razor focused on business activity data after Federal Reserve officials sought to calm fears of a sharp tapering of monetary stimulus.
IHS Markit’s flash reading on manufacturing and services PMI data, due at 0945 am ET (1345 GMT), is expected to show a slight easing in business activity this month, compared with May.
In a hearing before a U.S. House of Representatives panel, Fed Chair Jerome Powell reiterated the central bank will not raise interest rates too quickly on inflation fears alone and will encourage a “broad and inclusive” recovery of the job market. read more
Powell’s comments follow the Fed’s projection of an increase in interest rates as soon as 2023, sooner…