Market Update: Stock Futures Hold Steady Following S&P 500's New Record High

Money | July 10, 2024, 3:34 a.m.

Stock futures for the Dow Jones Industrial Average remained steady, while S&P 500 and Nasdaq-100 futures saw slight increases after both indices reached record highs. Following a cautious statement from Federal Reserve Chair Jerome Powell, Wall Street experienced a mixed session with slight gains. Powell warned that keeping rates high for too long could hinder economic growth. The S&P 500 saw a modest increase of 0.07%, the Nasdaq climbed 0.14%, and the Dow fell by 0.13%. Powell emphasized the importance of monitoring inflation and economic data to ensure sustainable growth. His comments come as he continues his testimony before Congress, highlighting the Federal Reserve's commitment to supporting the economy while maintaining a cautious approach to policy adjustments.