Stock Market Today: Futures Rise as Markets Anticipate a Dovish Yellen

NEW YORK (TheStreet) -- U.S. stock futures rose Thursday as investors awaited Federal Reserve Chair Janet Yellen's speech on Friday at the annual gathering of central bankers in Jackson Hole, Wyo. The event kicks off on Thursday and ends on Saturday.

The markets were brushing off the Federal Reserve's release of what was thought by many to be a more hawkish-than-expected set of July meeting minutes, rising as they sustained the momentum of the past six days and on expectations that Yellen will emphasize the importance of sticking to an accommodative interest rate policy. Economists expect that she'll say it's not necessary right now to expedite the reversal of monetary policy as inflation appears to be easing and wage growth remains muted.

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"The S&P 500 appears to be on a mission to eclipse the 2,000 level before considering the consequences of an uncontrolled advance," said S&P Capital IQ's managing director of U.S. equity strategy, Sam Stovall.

Dow Jones Industrial Average
futures rose 36 points, or 33.87 points above fair value, to 16,986, S&P 500 futures advanced 3.25 points, or 2.94 points above fair value, to 1,986.5. After the Fed minutes, the index rose to settled near its July 24 closing high. Nasdaq futures on Thursday gained 4.3 points, or 4.1 points above fair value, to 4,043.8.

For a closer look at what's lifting U.S. Markets this morning, click the video below:

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