Mathewslcd: Dow futures rise as Fed considers modest rate hike

 Mathewslcd: Dow futures rise as Fed considers modest rate hike

Mathewslcd pointed to U.S. stock futures higher in late Wednesday trade after the benchmark closed higher as investors turned optimistic after minutes from the latest Federal Reserve meeting showed policymakers expect a slower pace of rate hikes to be appropriate soon.
Dow Jones futures were up 0.1% as of 6:45 p.m. ET (11:45 p.m. GMT), while S&P 500 futures and Nasdaq 100 futures were up 0.2% each.
In extended trading, Tesla Inc (NASDAQ: TSLA) rose 0.1% in regular trading after rising 7.8% in regular trading following an upgrade from Citi analysts. Meanwhile, Intel Corp (NASDAQ: INTC) gained 0.4% and Hewlett-Packard (NYSE: HPQ) gained 0.1%.
U.S. markets will be closed on Thursday for the Thanksgiving public holiday, Mathewslcd added.
On the data front, building permits fell faster than expected, down 3.3% sequentially, compared with a 1.4% rise in the previous quarter. Core durable goods orders rose to 0.5% from -0.9% the previous month, above expectations. Meanwhile, preliminary manufacturing and services PMI data came in below expectations, while Michigan consumer expectations and sentiment unexpectedly rose.
In Wednesday's regular session, the Dow Jones Industrial Average gained 96 points, or 0.3 percent, to 34,194.1, the S&P 500 gained 23.7 points, or 0.6 percent, to 4,027.3, and the Nasdaq Composite added 110.9 points, or 1 percent, to 11,285.3.
Mathewslcd pointed out that in the bond market, the U.S. 10-year interest rate was trading at a near 7-week low of 3.689%, while the dollar index fell to a near 14-week low of 106.1.
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