Dow Jones Industrial Average

Stock futures in the US traded slightly higher on Wednesday, attempting to recover from early losses as investors digest dovish comments from Fed Chair, high Treasury yields and expectations of stronger inflation. During his semimanual testimony to Congress, Fed Chair Powell reinforced the Fed is committed to current policy stance as the economic recovery remains uneven while inflation is seen rising above 2% for some time. 10-year Treasury yields retreated from 1-year highs reached on Monday but remained elevated. Meanwhile, the House will vote on Friday on legislation to provide the $1.9 trillion aid package. On the data front, new home sales will be in the spotlight later in the day. On Tuesday, the Dow Jones rose 16 points or 0.1% to 31,537 and the S&P 500 gained 5 points or 0.1% to 3,881. In contrast, the Nasdaq fell 68 points or 0.5% to 13,465. Historically, the Dow Jones Industrial Average reached an all time high of 31685.97 in February of 2021. The Dow Jones Industrial Average is one of the most closely watched U.S. benchmark indices. It is a price-weighted index which tracks the performance of 30 large and well-known U.S. copanies that are listed mostly on the New York Stock Exchange. The Dow Jones Industrial Average has a base value of 40.94 as of May 26, 1896.