Stock futures rise after S&P 500 hits record high

US stock futures rose on Thursday, pointing to another record trading session after the opening bell, as investors awaited comments from Federal Reserve Chairman Jerome Powell.

Futures linked to the S&P 500 were up 0.3%. The broad market index closed at its 18th record this year on Wednesday. Nasdaq-100 futures advanced 0.8%, pointing to gains in technology stocks.

Stocks have started the second quarter on a solid footing, with the S&P 500 rising 2.7% this month. Larger tech companies have moved forward as the bond market calmed down, easing concerns about high valuations of growth stocks. Comments from the Fed’s policy makers, released on Wednesday, highlighted its intention to continue with flexible monetary policies until the economy has recovered further.

“The dynamics remain supportive for equities,” said Adrien Pichoud, portfolio manager and chief economist at SYZ Private Banking. “The Fed and central banks in general are perceived to be in no rush to raise rates.”

At 12 pm ET, Mr. Powell will speak about the global economy at the virtual spring meetings of the International Monetary Fund.


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