The U.S. Dollar Index is trading at 96.90 up with +0.07% percent or +0.06 point. The Dow Futures is trading at 25,278.00 with a loss of -0.26% percent or -66.00 point. The S&P 500 Futures is trading at 2,733.25 with a loss of -0.30% percent or -8.25 point. The Nasdaq Futures is trading at 6,883.00 with a loss of -0.51% percent or -34.50 point.
TODAY’S FACTORS AND EVENTS
The dollar extended its overnight losses on Thursday after Federal Reserve Chairman Jerome Powell said U.S. interest rates were just below neutral, taken by investors as a tip that the rate hike cycle was nearing its end.
Powell’s dovish remarks took the currency markets by surprise as he noted that the policy rate, at 2-2.25 percent, is now “just below” the broad range of estimates of neutral, which in September was 2.5-3.5 percent.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 25,366.43 up with +2.50% percent or +617.70 point. The S&P 500 is trading at 2,743.79 up with +2.30% percent or +61.62 point. The Nasdaq Composite is trading at 7,291.59 up with +2.95% percent or +208.89 point.
Other leading market index closes included the small-cap Russell 2000 Index closed at 1,530.38 up with 2.51% percent or +37.53 point; the S&P 600 Small-Cap Index closed at 961.11 up with +2.41% percent or +22.66 point; the S&P 400 Mid-Cap Index closed at 1,868.96 up with +1.96% percent or +35.88 point; the S&P 100 Index closed at 1,216.09 up with +2.49% percent or +29.54 point; the Russell 3000 Index closed at 1,616.59 up with +2.32% percent or +36.71 point; the Russell 1000 Index closed at 1,516.27 up with +2.31% percent or +34.22 point;