US equity futures are bullish after finishing mixed on Wednesday, as Fed minutes showed most policymakers viewed inflation as stable. The S&P 500 hit a record when Treasury Secretary Janet Yellen campaigned for a global minimum corporate tax.
It will align other major economies with the Biden administration’s plan to increase business taxes to fund the comprehensive $2 trillion program to spend on roads, railways, manufacture of energy, and semiconductors. The top three US stock indices posted returns ranging from -0.07% to 0.15%.
The Dow Jones gained a marginal 0.05% to 33,446.26 points. Meanwhile, the Nasdaq technology lost 0.07% to 13,688.84 units.
The S&P 500 gained just two points and narrowly hit a new record at 4,079.95 units, up 0.15%.
The Fed minutes followed market expectations
The Fed reiterates that it would maintain its monetary policy of ultra-low rates until they reach the employment and inflation targets.
Those in charge of the Federal Reserve were divided on the probable evolution of inflation in the United States. what’s more is that some worry about a too high rise in prices, and others considered that it would be weak.
According to The Fed, most participants consider the risks to the inflation outlook to be globally stable.
However, some Monetary Committee members stressed that supply disturbances and strong demand could drive inflation higher than expected.
Conversely, several participants commented that the factors contributing to weak inflation could push inflation down more than anticipated.
According to Tom Cahill of Ventura Wealth Management, the minutes aligned with the market’s expectations that they did not affect it.
European stock indices are currently on the upside after a mixed session on Wednesday, with healthcare stocks leading losses. Asian stock indices are on the rise today, with Hong Kong’s Hang Seng Index leading the gains.