U.S. Stock Futures Higher Amid Upbeat Global Markets, Tame Retail Sales Forecasts, Fed Doves on Tap
Global equities, including U.S. stock futures, rallied Wednesday as easing geopolitical tensions, falling energy prices and diminished expectations for higher UK and U.S. interest rates overshadowed weak Asian economic data.
U.S. stock futures' gains come ahead of July retail sales data, which are expected to show a modest gain of 0.2% last month, not enough ammunition for the Federal Reserve to alter current monetary policy.
In addition, two of the most dovish members of the Federal Reserve, NY Fed President William Dudley (voting) and Boston Fed President Eric Rosengren (non-voting) are expected to ease fears of an imminent increase in short-term U.S. rates at speaking engagements Wednesday.
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