Wall Street’s main indexes were set to open higher on Wednesday on hopes of an economic recovery in China, while focus was also on minutes from the Federal Reserve’s December policy meeting for clues on the outlook for interest rate hikes.
Minutes from the Fed’s previous meeting, when it raised interest rates by half a percentage point and cautioned rates may need to remain higher for longer, are due to be released at 2 p.m. ET (1900 GMT).
The minutes could show the U.S. central bank’s internal deliberations entering a new phase where risks to economic growth and employment are given more standing, while curbing high inflation remains the top priority.
Meanwhile, U.S.-listed Chinese firms such as Alibaba Group Holding Ltd , JD.com Inc and Baidu Inc jumped over 6% each in premarket trading on hopes of a post-COVID recovery in China and on talk of support for the country’s housing sector.
This report’s information was first seen on REUTERS; to read more, click this link.
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