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US stocks trading at near all-time highs prior to Thursday's opening
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U.S. equity futures are trading higher early Thursday morning with major indexes trading near all-time highs as investors are parsing signals about the path of the economy and the intentions of the Federal Reserve as they consider how much more of a rally may be in store.
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Fresh data on inflation will come on Friday with the release of the Federal Reserve’s preferred gauge. It will cover May, when the consumer price index saw year-over-year inflation of 5%.
U.S. futures were higher after a bipartisan group of U.S. senators proposed a pared-down plan for $559 billion in new infrastructure spending that could open the door to President Joe Biden’s more sweeping $4 trillion proposals.
INFRASTRUCTURE BILL: ‘BREAKTHROUGH’ IN TALKS BETWEEN WH, BIPARTISAN GROUP OF SENATORS
Biden invited members of the group to the White House on Thursday to discuss the $953 billion infrastructure plan as a reported breakthrough had been reached in a bipartisan infrastructure framework.
Markets have calmed notably since the Federal Reserve surprised investors last week by saying it could start raising short-term interest rates by late 2023, earlier than expected, if recent high inflation persists.