Stock Market Today: Futures Extend Gains as CPI Eases, Housing Starts Jump
NEW YORK (TheStreet) -- Those expecting any shift in the Federal Reserve's monetary policy at this week's symposium in Jackson Hole, Wyo., are most likely setting themselves up for disappointment.
U.S. stock futures on Tuesday were pointing to another strong start, building on the prior session's gains that saw the S&P 500 rise to just 0.8% below its July 24 record close. The gains came as many economists and market participants continue to bet that the Fed will keep communicating a more dovish stance despite rising inflation chatter and a consistently healthy economic recovery.
Dow Jones Industrial Average futures were up 53 points, or 40.26 points above fair value, to 16,846. S&P 500 futures were up 4.5 points, or 3.71 points above fair value, to 1,972. Nasdaq futures were up 10.2 points, or 6.4 points above fair value, to 4,023.5.
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