Market Snapshot: S&P 500, Dow at new intraday highs as bulls bank on Fed rate cut

Stock-index futures indicate Wall Street will attempt to push further into record territory Friday, after Federal Reserve Chairman Jerome Powell in two days of congressional testimony bolstered investor expectations for an interest-rate cut at the end of the month.

How are the major benchmarks performing?

Futures on the Dow Jones Industrial Average YMU19, +0.31% rose 90 points, or 0.3%, to 27,166, while those for the S&P 500 ESU19, +0.24% gained 7.35 points, or 0.2%, to 3,011.25. Nasdaq-100 futures NQU19, +0.20% were 17.25 points higher at 7,936.75, a gain of 0.2%.

The Dow DJIA, +0.85% on Thursday rose 227.88 points, or 0.8%, to 27,088.08, marking its first close above 27,000.

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