August 26, 2018 / 11:23 PM / 8 months ago

U.S. stock futures hit record high following speech from Fed's Powell

FILE PHOTO: Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 22, 2018. REUTERS/Brendan McDermid

SHANGHAI (Reuters) - U.S. stock futures hit a record high early on Monday in Asia after U.S. Federal Reserve Chairman Jerome Powell said on Friday that a gradual approach to raising rates remains appropriate to protect the U.S. economy and job growth.

S&P 500 e-mini futures ESc1 rose as much as 0.15 percent to a record high of 2,881, and were last up 0.13 percent at 2880.5.

The benchmark S&P 500 index .SPX hit record highs on Friday following Powell's speech.

Reporting by Andrew Galbraith

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