Wall Street flat premarket as traders assess recovery
Shares on Wall Street were muted during the premarket session on Friday as investors evaluated the economy’s recovery from the coronavirus pandemic based on this week’s data reports and corporate earnings.
Earlier this week, Federal Reserve Chairman Jerome Powell testified before Congress that the US economy still has a “long way to go” before the central bank can tighten its monetary policy. Powell also touched on the issue of rising inflation, assuring lawmakers that the Fed has been closely monitoring recent price increases but still expects them to be a transitory occurence.
The Dow Jones, the S&P 500 and the Nasdaq 100 were all flat at 4:40 am ET.
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