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Wall Street anticipates a slight correction waiting for Powell to speak


Wall Street anticipates a flat sign-in waiting to hear from Jerome Powell. US index futures are coming to a close on Monday with strong gains of 2%. Now, the word is with the Fed president, who will speak at 18:30 (Spanish peninsular time).

"Employment is still well below its pre-poem levels, and the path ahead for our economy is fraught with uncertainty, depending largely on our success in containing the virus," Powell said in recent statements prior to his intervention this Tuesday.

"The bottom line will also depend on actions taken at the institutional and government level to provide relief to the economy whenever necessary," added the Fed chairman at the time. Despite his latest fixes, US stocks are on track to close a month of increases in June.

On the other side of the Atlantic, the Ibex turns red under pressure from its banks and Telefónica. In Asia, stocks have closed higher after Chinese manufacturing activity beat expectations in June.

June manufacturing PMI, which is at 50.9 versus economists' estimate of 50.4. PMI readings above 50 signify expansion, while below this level indicate contraction. In May, the manufacturing PMI stood at 50.6.

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