The Dow Jones index wants to wait for the Powell level above 44,000 points

DOW JONES futures rose 0.25% to 44,062 and S&P 500 futures rose 0.15% to 5,994. NASDAQ 100 futures rose 0.10% to 21,063.

Yesterday, Wednesday, the major Wall Street indices had a mixed day. The Dow Jones and S&P 500 closed virtually unchanged but higher, up 47.21 points, or 0.11% and 0.02%, respectively. The Nasdaq Composite ended the session down 0.26%.

The closures followed a day when the October consumer price index was released, which was in line with expectations but showed that The Fed’s battle with inflation is not yet won.

. The core consumer price index rose 0.3% for the third month in a row, with the 12-month rate at 3.3%.

Investors are pondering whether there is still room for growth in the post-election rally that followed Donald Trump’s decisive victory last week, after major index averages climbed to new highs. On Monday, the Dow closed above 44,000 for the first time.and the S&P 500 and Nasdaq Composite indexes reached new highs.

Courtney Garcia, senior wealth advisor at Payne Capital Management, expects there is still room for improvement given investor cash expectations and market confidence. “I don’t think the rally will necessarily end in the short term, but with the addition of this new money, I think there are many other areas of opportunity that still have room to grow,” he explains in a statement to CNBC.

On the macroeconomic agenda, new inflation data is also available today: the Producer Price Index (PPI) will be released shortly before the bell. Except, Today, Fed President Jerome Powell will speak at an event in Texas shortly before the close of trading.while fears are growing that the new Trump administration will take inflationary measures, including tariffs and tax cuts.

Traders overall rate the likelihood of a 25 basis point rate cut at the Fed’s December meeting at 82.3%, according to CME’s FedWatch tool. However, the prospects for future meetings, where the cuts were also not taken into account, are becoming increasingly unclear.

The change in inflation expectations is clearly visible in the bond market, where US 10-year Treasury yields rise to highest level since Julyincreasing pressure on the bag. Today, the benchmark bond yields 4.458%, while the two-year bond yields 4.286%.

In the quarterly earnings season, earnings from entertainment giant Walt Disney came out today. beat market expectations after its streaming business turned profitable. Its shares soared 9.66% ahead of the opening bell.

The company reported fourth-quarter adjusted earnings of $1.14 per share, above the $1.10 expected by analysts polled by Bloomberg. Revenue was $22.57 billion, beating consensus expectations of $22.47 billion. Disney+, Hulu and ESPN+’s direct-to-consumer (DTC) streaming division posted operating income of $321 million for the quarter ended Sept. 28, up from a loss of $387 million in the same period last year. year.

Cisco Systems released its earnings results last night, which showed a 1% decline before the open. And the San Jose, California-based technology company reported adjusted earnings of 91 cents per share on revenue of $13.84 billion, both beating expectations. Analysts had forecast earnings of 87 cents per share and revenue of $13.77 billion.

In other markets The dollar is not losing ground after Trump’s victory and is at a yearly high compared to its major international peers. Today, the euro fell a further 0.52% against the US dollar, leaving the rate at $1.051 per community currency.

The dollar’s strength is felt in commodity markets as it makes purchases more expensive for buyers in other currencies, affecting demand. Gold prices, for example, continued to lose ground and are nearing two-month lows, with spot gold falling 0.6% to $2,557.91 an ounce for the fifth consecutive session of declines.

Oil prices are struggling to maintain gains despite forecasts for slow demand growth. Benchmark Brent crude in Europe rose 0.57% to $72.70 a barrel, while US West Texas futures rose 0.56% to $68.81 a barrel.

The only one that doesn’t seem to be slowing down is Bitcoin, which topped $91,000. It rose 3.62% over the past 24 hours to $90,950, according to CoinMarketCap.