As investors waited for the record of the Fed’s last policy meeting to get clues about how officials view inflation and the pace of economic recovery, US stock futures fluctuated on Wednesday.
Futures linked to the Standard & Poor’s 500 Index and the Dow Jones Industrial Average fluctuate between gains and losses. The high-tech Nasdaq 100 futures were also relatively flat. On Tuesday, the index dropped slightly after hitting a record high at the beginning of the week.
Signs that the economy has rebounded from the coronavirus-driven downturn have boosted investors and helped push major indexes to levels not seen this week. The rapid vaccination work, coupled with monetary and financial support, has contributed to the recovery of the labor market and manufacturing industry. Money managers are betting that more of the economy will return to normal soon and promote the development of travel and leisure companies.
Hugh Gimber, global market strategist at JP Morgan Asset Management, said: “We have always expected data to improve during this period. The early signal is that the recovery is on track.”
Some investors are still worried that the relaxation of restrictions, coupled with sluggish consumer demand, may intensify inflation and prompt the Fed to raise interest rates early.