DJIA futures down 17 points (Il Sole 24 Ore Radiocor) - New York, 20 Aug - US futures marked time as investors assessed options following this year's longest winning streak for stocks amid growing hopes for deeper interest rate cuts.

Wall Street ended higher yesterday with the S&P 500 rising 1% to notch up its eighth straight day of gains to bring it back close to record highs. The Dow was up 0.6% while the tech-heavy Nasdaq rose 1.4%.

The market has rebounded from the stiff losses it incurred earlier this month as economic data boost hopes for a more concerted monetary pivot by the Fed.

Yesterday Minneapolis Fed President Neel Kashkari said a rate cut next month was a possibility with the labor market starting to show signs of cooling too fast while Mary Daly, president of the San Francisco Fed, said recent economic data had given her 'more confidence' inflation was under control.

Ahead of the Fed's next policy meeting in September the focus this week is on the Jackson Hole Economic Symposium starting Thursday, with Fed Chair Jerome Powell due to speak Friday.

In the past the Symposium has been an occasion for the Fed to make some big policy announcements.

On the stocks front, shares in Palo Alto rose 2.5% in premarket trade after it beat earnings and guidance estimates while Lowe's was 0.5% higher after the home improvement retailer lowered its profit outlook for the year but posted a beat on quarterly income.

Futures on the Dow Jones were down 17.00 points, or 0.04%, S&P 500 futures were up 3.75 points, or 0.07%, while futures on the Nasdaq were 15.00 points, or 0.08%, higher.

AAA-Sje

(RADIOCOR) 20-08-24 13:47:37 (0297) 5 NNNN