On Monday, Wall Street stocks rallied as market participants mostly stood on the sidelines ahead of Janet Yellen’s speech. The Fed Chair could provide long-awaited hints as for interest rate lifts after the previous week’s gloomy jobs report.
Dow Jones Industrial Average futures edged up 12 points, trading at 17,814. The S&P 500 futures gained just 0.20 point, being worth 2,098. As for the Nasdaq-100 futures, they surged 4.25 points at 4,513.50.
On Friday, American shares closed moderately lower, following news the economy, which created up to 38,000 jobs in May. Well, this means that the Fed isn’t going to lift rates at its gathering later this month. The S&P 500 ended almost flat for the week.
The equity reaction to Friday’s data appeared to be quite telling. The financial markets struggled to get excited regarding the continuation of low rates, instead concentrating on the weaker economy. That’s another sign that monetary policy is currently losing its impact on financial markets.