Major stock equities on Wall Street were higher in the premarket trading on Wednesday seemingly drawing optimism from the latest remarks by the Federal Reserve policymakers as market participants braced for the upcoming release of consumer price index (CPI) in the United States the next day.
Following the cooler-than-anticipated jobs data that appeared to leave room for more monetary tightening, the imminent reading on the country's inflation may provide more hints on the Fed's policy in the months to come. Chairman of the Federal Reserve, Jerome Powell, stressed that restoring price stability in the country may require the employment of short-term unpopular measures by the central bank.
The Dow Jones Industrial Average rose by 0.14% at 4:12 am ET. The Nasdaq 100 and the S&P 500 moved up by 0.11% and 0.10% respectively. The euro stood flat against the dollar, to sell at $1.07339 a minute later.