US stock futures edge up and the dollar nears 3-week highs after minutes show the Fed still has appetite for rate hikes

Traders on the floor of the New York Stock Exchange (NYSE).
US stock futures edged up Thursday, as investors assessed Federal Reserve minutes for clues to the path of interest-rate hikes.
The dollar gained to near three-week highs as the Fed appeared to commit to more hikes.
In Asia, stocks were downbeat after COVID-19 cases in China rose to a three-month high. 

US stock futures inched higher Thursday as investors combed through Federal Reserve minutes for clues to policymakers’ thinking on the future path of interest-rate hikes.

The July minutes released Wednesday were increasingly seen as confirming the Fed will stick with rate increases to cool down inflation, which is running at 40-year highs despite a pullback last month. Policymakers’ comments undermined hopes for a pivot to rate cuts in 2023, as many investors hoped for before the minutes’ release.

Futures on the major US stock benchmarks were all just in the green, with those on the S&P 500, Nasdaq 100 and Dow Jones ticking…

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This article was written by [email protected] (Zahra Tayeb) and originally published on markets.businessinsider.com