Stock futures are little changed Wednesday night: Live updates – CNBC

Stock futures were little changed overnight Wednesday as investors awaited comments from Federal Reserve Chairman Jerome Powell expected later this week.

Futures Dow Jones Industrial Average Added 21 points. S&P 500 Futures There was little change, but Nasdaq 100 Futures It rose 0.1%.

In after-hours trading, shares of software company Snowflake Inc. fell 8% even though the company beat quarterly expectations and slightly raised its full-year product sales outlook. Urban Outfitters Inc. fell more than 8% after its second-quarter same-store sales figures disappointed analysts’ expectations.

Wednesday’s trading marked a resumption of the recent rally, with newly released minutes from the Fed’s July meeting showing that a “majority” of participants at the central bank said it would “probably” be appropriate to cut its key interest rate at its September meeting if data continues to be released as expected.

Investors seemed to welcome the results, S&P 500 and Nasdaq Composite Index It was the ninth increase in the past 10 days, as the S&P 500 Index rose, moving it to within 1% of its closing record. Dow The patient tested positive for the sixth time in the past seven days.

Traders are now focusing on Powell’s expected speech. Jackson Hole Economic Symposium Hoping for more insight into interest rate policy on Friday, traders are pricing in a 100% chance of a rate cut next month, according to a CME Group survey. FedWatch tool, but there is disagreement over the magnitude of the cuts.

“Volatility has subsided over the past month as macroeconomic concerns eased, expectations were reset and investors used weakness as an opportunity to increase risk exposure. The next catalyst for markets will be the Fed data, with a wait-and-see stance likely through Friday,” said Mark Hackett, head of investment research at Nationwide.

Weekly jobless claims data is due to be released on Thursday. Intuit and Ross Store also plans to report earnings results.