December S&P 500 E-Mini futures (ESZ25) are trending up +0.46% this morning as sentiment improved following dovish comments from a Federal Reserve official.
New York Fed President John Williams said on Friday he sees scope for the central bank to cut interest rates again in the near term as the labor market weakens. “I view monetary policy as being modestly restrictive, although somewhat less so than before our recent actions,” Williams said. “Therefore, I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral, thereby maintaining the balance between the achievement of our two goals.”
