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Aug 27, 2018

Before The Bell I US stocks to open higher after Powell signals further rate hikes.I CNBC


Ryan Browne


U.S. stock index futures traded higher Monday, following reassuring comments from Federal Reserve Chair Jerome Powell on the central bank's policy-tightening path.
Dow futures were seen trading 80 points higher, indicating a positive open of 84 points, while S&P and Nasdaq futures were also in the black.
Global markets were buoyed by news from Friday that the Fed's Powell sees "further, gradual" rate hikes ahead. The Fed chief said at the Jackson Hole Symposium in Wyoming that the central bank would likely continue with its policy tightening if the economy continued to strengthen.
Powell's comments lifted the S&P 500 and Nasdaq composite indexes to record highs in Friday's trading session.
In Asia, China's central bank, the People's Bank of China (PBOC), reintroduced a policy adjustment aimed at supporting the yuan. China has been accused by President Donald Trump of being a "currency manipulator."
In political news, President Trump is meeting with Kenyan Prime Minister Uhuru Kenyatta at the White House on Monday to discuss stability in Africa, defense cooperation and trade.
In corporate news, Tesla Chief Executive Elon Musk announced Friday a halt to his plan to take the electric car maker private. And aerospace firm Heico is set to report earnings after the bell.
On the data front, the Dallas Federal Reserve is set to release manufacturing numbers at 10:30 a.m. ET.