- The Dow broke above the 27,800 level on Wednesday, record highs.
- Trade concerns remain the exclusive driver of the global mood.
- Fed’s Powell will testify again to the Congress later in the session.
The US benchmark index for equities closed for the fifth consecutive day with gains on Wednesday, including a move beyond the 27,800 pts to record an all-time high.
Dow Jones futures point to a soft open
The resurgence of trade concerns is weighing on investors’ sentiment on Thursday and echoes on the Dow futures, which are pointing to a negative open around the 27,700 pts at the time of writing.
It is worth recalling that a fresh wave of trade jitters and scepticism on the progress of the US-China negotiations have re-emerged among market participants after President Trump failed to meet expectations on the issue at his speech on Tuesday.
Moving forward, the Dow is seen trading on a cautious note ahead of another testimony by Fed’s J.Powell, this time to the House Budget Committee and the publication of October’s Producer Prices, Initial Claims and the DoE report on crude supplies.
In the same direction, S&P500 futures are also looking south and point to the 3,090 region, also following recent record highs beyond the 3,100 level.
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