Futures shares one centimeter higher after the S&P 500 marks another record close

Futures on major US stock indices rose early in the session on Wednesday night, suggesting that Wall Street could extend gains that propelled the S&P 500 to record levels this week.

Futures related to the broad equity index rose about 0.1%, while Nasdaq 100 contracts added 0.1% similarly. Dow futures rose 20 points.

The moves in the extended trading took place after an explosion at the end of the day in the S&P 500 pushed it to 4,079.95, a new closing level. The Dow Jones industrial average rose 16 points, or 0.1%, during the regular session.

Nasdaq Composite, with a technological intensity, fell by 0.1%, even if Big Tech shares outperformed. Amazon, Apple and Alphabet rose more than 1%, while Facebook rose 2.2%.

Both the Dow record and the S&P 500 record close on Monday.

Investors appeared pacified during Wednesday’s last-minute session of the Fed meeting, which showed that officials intend to keep pace with asset purchases at the same time as the central bank works to support stable prices and maximum employment.

For Evercore ISI stock strategist Dennis DeBusschere, the market is not fully convinced that robust growth and inflation will not force the central bank’s hand sooner.

“The market predicts that the Fed will have to raise rates before it says it will,” he said in an email. “The question is whether the Fed will raise rates before inflation exceeds 2% for some time.”

If they stick to their plan, yield curves will increase as growth prospects improve and the unemployment rate falls, DeBusschere added. “It’s about RESULTS.”

President Joe Biden spoke in Washington on Wednesday about his administration’s $ 2 trillion infrastructure plan, which includes a 28 percent increase in the corporate tax rate, and said he was willing to negotiate a tax increase proposal.

The proposed profit tax increase is seen as a key source of tax revenue for the White House infrastructure plan and is not a starter for Republicans, who say they are worried about tax increases as the US economy moves out of Covid-19 pandemic.

Separately, the Treasury Department said Biden’s tax proposals will generate about $ 2.5 trillion over 15 years in an effort to pay for eight-year spending on roads, bridges, transit, broadband and other projects.

Fiscal support is considered a key factor in last month’s capital records and strong economic data, including a stronger-than-expected ratio in March. The S&P 500, Dow and Nasdaq Composite are all coming in the fourth straight quarter of earnings as Covid-19’s economic recovery accelerates.

On Thursday, investors will examine the Department of Labor’s latest update on the number of Americans claiming unemployment benefits for the first time. Economists surveyed by Dow Jones expect claims for the first time to reach 694,000 in the week ending April 3.