U.S. stocks appear poised for a positive open on Thursday, reversing recent sluggishness, despiteFederal ReserveChairJerome Powellsignaling the central bank's data-dependent approach to future rate cuts.
Traders seem unfazed by Powell's hawkish stance, with some clinging to their expectation of three rate cuts this year. Strong gains earlier this year and typical market optimism during election years further solidify this sentiment. The broad-based market rally adds another reason for confidence.
On Thursday, traders will likely look to the weekly jobless claims data and a slew of Fed speeches to confirm their expectations.
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