U.S. stock index futures inched higher during overnight trading on Wednesday.
U.S. stock index futures inched higher during overnight trading on Wednesday, after the CDC confirmed the first known case of the omicron variant in the U.S., sending stocks tumbling. Futures contracts tied to the Dow Jones Industrial Average gained 72 points. S&P 500 futures advanced 0.2%, while Nasdaq 100 futures added 0.25%. During regular trading the Dow fell about 460 points, or 1.34%. Earlier in the session the 30-stock benchmark had advanced 521 points, or 1.5%. The S&P dipped 1.18%, giving back an earlier gain of about 1.9%. The Nasdaq Composite slid 1.83%, after earlier trading 1.8% higher. Stocks drifted from their morning highs after Fed Chairman Jerome Powell said that he expects policymakers to discuss the possibility of a faster taper schedule at the meeting this month. « At this point, the economy is very strong and inflationary pressures are higher, and it is therefore appropriate in my view to consider wrapping up the taper of our asset purchases, which we actually announced at the November meeting, perhaps a few months sooner, » he said in a Congressional testimony.
