Futures over the US indices indicate a higher opening for the US market. The Dow rose nearly 100 points, S & P rose 18 points and NDX with 35 points.
The main reason for this was reassuring statements by Federal Reserve Chairman Janet Yellen. “I certainly would not describe the US economy as a bubble,” she said, noting the “healing” of the labor market and 5% unemployment.
Yellen’s statement was in the presence of former Fed chairman Ben Bernanke, Paul Volcker and Alan Greenspan at the International House in New York.
The statement helped to calm worries about rising risks of the global economy. Yen went a little down from recent highs against the US dollar.