Stock Market Today-6/24:Relief Rally Defies Global Growth Concerns

U.S. equity futures moved higher again Friday, setting up Wall Street for its first weekly gain in a month, even as markets around the world continue to suggest that growth concerns have overtaken inflation worries heading into the second half of the year.

Federal Reserve Chairman Jerome Powell told Congressional lawmakers on Capitol Hill yesterday that he and his colleagues “can’t fail” in their effort to bring inflation back to the 2% level needed for price stability in the world’s biggest economy, a reiteration that points to more Fed rate hikes and slower economic growth.

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