Investors on hold for Fed Chair Powell’s speech as strong data boosts stocks globally

• The S&P 500 closed up 1.47% on Friday but S&P futures were down 0.77% preopening in New York. Earnings and macro data have largely come in stronger than expected for Q1, but investors are likely putting everything on hold until Wednesday’s interest rate decision from the Fed. While the Fed is not expected to change rates, Fed Chair Jerome Powell’s commentary will likely move markets globally.

Stock markets in Asia and Europe largely moved higher this morning following...