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Futures are ahead of weekly jobless claims data.

Traders see a slightly higher chance of a 50 basis point Fed hike in September rather than a third 75 basis point hike after Wednesday’s minutes. [FEDWATCH]

“The July FOMC minutes indicate that participants believe that at some point it may be appropriate to slow down the pace of upside while assessing the impact of possibly tighter financial conditions,” Goldman Sachs said in a statement. An obligation

Treasury yields fell slightly, giving some high-growth and tech stocks a boost in pre-market trading

The Fed has raised its benchmark interest rate by 225 basis points since the start of the year to curb four-decade high inflation, prompting a sharp decline in the stock market, as investors adjust to tightening financial conditions.

The Labor Department data, released at 8:30 a.m. ET, is expected to show initial jobless claims rose 3,000 to 265,000 seasonally in the week ended Aug. 13, from 262,000 the previous week.

Data showing weaker-than-expected inflation in July has fueled a risky rally in the stock market in recent weeks, with investors awaiting more clues on interest rates at the Fed’s annual Jackson Hole symposium next week.

The tech-heavy Nasdaq rebounded nearly 22% from a mid-June low, while the benchmark S&P 500 rose 17%, buoyed by upbeat U.S. corporate earnings results.

As of 7:01 a.m. ET, the Dow e-minis were up 28 points, or 0.08%, the S&P 500 e-minis were up 3.25 points, or 0.08%, and the Nasdaq 100 was up 4 points, or 0.03%.

Retailer Kohl’s Corp fell 7.5% after cutting its full-year sales and profit forecasts due to deep discounts and higher costs.

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