{"id":126585,"date":"2021-05-28T01:23:52","date_gmt":"2021-05-28T01:23:52","guid":{"rendered":"https:\/\/precoinnews.com\/?p=126585"},"modified":"2021-05-28T01:23:52","modified_gmt":"2021-05-28T01:23:52","slug":"futures-gain-as-fed-calms-inflation-worries","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/futures-gain-as-fed-calms-inflation-worries\/","title":{"rendered":"Futures gain as Fed calms inflation worries"},"content":{"rendered":"
(Reuters) – U.S. stock index futures rose on Wednesday after remarks from Federal Reserve officials helped calm inflation worries, while a recent dip in bond yields supported Nasdaq futures climb for a third straight session.<\/p> Fed vice chair Richard Clarida downplayed the effects of higher price pressures on Tuesday, voicing faith in the central bank\u2019s ability to engineer a \u201csoft landing\u201d if prices continue to escalate beyond what is expected.<\/p>\n Fears of rising inflation have weighed on Wall Street\u2019s main indexes this month, with most analysts expecting a jump in borrowing costs in the short term as the economy reopens.<\/p>\n The U.S. personal consumption report, the Fed\u2019s favorite inflation gauge, is due on Thursday.<\/p>\n Apple Inc, Amazon.com Inc, Microsoft Corp and Alphabet Inc added between 0.1% and 0.3% in premarket trading, helped by subdued Treasury yields.<\/p>\n The yield on the benchmark 10-year Treasury note stood at 1.5672 after scaling a more than one-month high earlier in May. Higher yields pressure valuations for tech and other growth stocks, whose future cash flows are discounted at higher rates. [US\/]<\/p>\n At 6:30 a.m. ET, Dow e-minis were up 77 points, or 0.2%, S&P 500 e-minis were up 11 points, or 0.3%, and Nasdaq 100 e-minis were up 34.5 points, or 0.24%.<\/p>\n Cryptocurrency-related stocks including those in Riot Blockchain, Marathon Patent Group and Coinbase Global rose between 2% and 4.6% in premarket trading as bitcoin climbed back above $40,000 for the first time this week.<\/p>\n Oil heavyweight Exxon Mobil Corp gained 0.7% ahead of its first major boardroom contest where climate change is a central issue.<\/p>\n Department store operator Nordstrom Inc dropped 6% in thin trading after reporting a bigger-than-expected quarterly loss, hurt by price markdowns.<\/p>\n Apparel retailer Urban Outfitters jumped 9.3% after it posted better-than-expected quarterly results and signaled accelerating sales in May.<\/p>\n