U.S. stock index futures point to a higher open earlier this morning as investors’ turned more optimistic about the economy.
Following its two-day meeting, the Federal Reserve on Wednesday hinted at an improving economy, while saying inflation would remain subdued and that interest rates would stay low for an extended period. Separately, Europe’s two biggest economies, France and Germany, posted surprise returns to growth in the second quarter, boosting investor optimism even further. Both countries’ gross domestic product rose by 0.3% in the second quarter, while economists were expecting a 0.3% contraction in both countries.
Stock futures pulled back from earlier highs following reports on retail sales and jobless claims. Sales at U.S. retailers unexpectedly fell in July while initial jobless claims unexpectedly rose to 558,000.
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