Stock market today-9/8: stocks higher, Powell, ECB in focus

Wall Street futures moved slightly higher on Thursday, as the dollar pushed back recent gains against its global counterparts as investors watched a policy decision from the European Central and a policy speech from Fed Chair Jerome Powell.

Shares hope to build on yesterday’s brisk rally on Wall Street, which broke the longest daily losing streak for the Nasdaq since 2016, amid a dip in the dollar and betting on a so-called ‘soft landing’ for the US economy .

Markets can get further clues in that direction from President Powell’s speech later this morning in Washington, which begins as ECB President Christine Lagarde will address the media in Frankfurt after a fully expected 75 basis point rate hike.

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