India, Aug. 13 -- The major U.S. index futures are currently pointing to a modestly higher open on Wednesday, with stocks poised to add to the strong gains posted in the previous session.
The markets may continue to benefit from optimism about an interest rate cut by the Federal Reserve following yesterday's consumer price inflation data.
With the consumer price inflation data largely coming in line with economist estimates, the Fed is widely expected to lower rates by a least a quarter point next month.
U.S. Treasury Secretary Scott Bessent wants the Fed to keep the door open to a larger, 50 basis point rate cut next month following recent weak jobs data.
CME Group's FedWatch Tool is currently indicating a 99.9 percent chance the Fed w...