This comes after the U.S. Federal Reserve announced another rate cut Wednesday — making it the third time this year that the central bank has cut interest rates. Nonetheless, policymakers signaled that the bank is set to press pause and wait for further data to decide future steps.
The Fed’s Chairman, Jerome Powell, said: “I think we would need to see a really significant move up in inflation that’s persistent before we would consider raising rates to address inflation concerns.”
On the data front, there will be new jobless claims due at 08:30 a.m. ET. Consumer spending numbers, an employment cost index and personal income data will also be published at 08:30 a.m. ET.
In terms of auctions, the U.S. Treasury is set to sell $55 billion in four-week bills and $40 billion in eight-week bills.