U.S. stock index futures were little changed on Wednesday as investors awaited Federal Reserve Chair Jerome Powell's speech at a conference to gauge his view on interest rates and the state of the economy.
Treasury yields have retreated sharply from their highs amid expectations that the Fed has reached the end of its rate-hike campaign, helping the S&P 500 and the Nasdaq notch their longest streak of gains in two years on Tuesday.
Markets are now pricing in rate cuts as soon as in May, according to the CME Group's FedWatch tool, with odds of a cut of at least 25 basis points having risen to nearly 52%, compared with about 41% a week earlier.
All eyes will be on Powell's opening remarks before the Federal Reserve Division of Research and Statistics Centennial Conference at 9:15 a.m. ET (1415 GMT) for more clues on how long U.S. monetary policy could stay restrictive.
