India, April 23 -- After moving sharply higher over the course of the previous session, stocks are likely to show another strong move to the upside in early trading on Wednesday. The major index futures are currently pointing to an extended rally on Wall Street, with the S&P 500 futures up by 2.4 percent.
The upward momentum on Wall Street comes after President Donald Trump appeared to soften his stance on Federal Reserve Chair Jerome Powell.
"I have no intention of firing him," Trump told reporters on Tuesday but reiterated he would like to see Powell and the Fed resume lowering interest rates.
Trump's attack on Powell, including calling him a "major loser" as recently as Monday, had led to anxiety on Wall Street about the Fed's indepen...