Futures Pointing To Initial Strength On Wall Street

(RTTNews) - Stocks may move to the upside in early trading on Thursday after ending yesterday's choppy session modestly lower. The major index futures are currently pointing to a higher open for the markets, with the S&P 500 futures up by 0.4 percent.

Traders may once again look to go bargain hunting, picking up stocks at relatively reduced levels following recent weakness in the markets.

While the major averages are positive for the week following a rally on Tuesday, they are not far off their worst levels in over a year.

Trading may once again be impacted by reaction to congressional testimony by Federal Reserve Chair Jerome Powell, who is due to appear before the House Financial Services Committee.

Powell's prepared remarks are likely to mirror those he delivered to the Senate Banking Committee on Wednesday, although traders will be keeping an eye on the question-and-answer segment of his testimony.