Markets Flash: What Investors Must Know Thursday

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Federal Reserve Chairman Jerome Powell heads to the Senate for the second day of his congressional testimony following his markets-approved address to the House. Powell's comments to the House Financial Services Committee Wednesday were level-headed and rather implicit as usual, yet all indications were that there will be an interest rate cut soon. "Inflation pressures remain muted," Powell said. He mentioned the 3.1% wage growth is certainly not a negative, but that it's not enough to support higher inflation. The Fed's inflation target remains at 2%.

But there's more to this market than the Fed: 

The Trump administration has launched a probe of France's proposed digital tax which appears to target U.S. tech giants such as Alphabet (GOOGL) - Get Report and Amazon (AMZN) - Get Report

Global oil markets extended gains, lifting U.S. crude prices to six-week highs.

Lockheed Martin (LMT) - Get Report will keep a helicopter plant it planned to close open after its CEO met with Trump. 

Delta (DAL) - Get Report reported earnings and beat estimates on both top and bottom lines, sending the stock higher by 2.2% in premarket trading. Delta was the first of the major airlines to report. The entire airline group -- American Airlines (AAL) - Get Report , Southwest Airlines (LUV) - Get Report and United Airlines (UAL) - Get Report -- traded higher Thursday morning. 

Related. Jim Cramer: Save the Bubble Talk for the Bath

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A Flight Through Delta Airlines History