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Inventory futures are rising barely in in a single day buying and selling after Dow briefly eliminated losses for 2020

Futures, which were pegged to key US stock benchmarks, rose slightly in overnight trading Thursday as Wall Street attempts to build on its record breaking rally.

The Dow Jones Industrial Average futures gained 60 points. The S&P 500 futures and the Nasdaq 100 futures gained 0.1% each.

The S&P 500 hit a new all-time high for the fifth time in a row on Thursday, briefly exceeding 3,500 for the first time. The Dow gained 160 points for its fifth positive day in six. The Nasdaq underperformed, down 0.3% on declines at Apple and Amazon.

The 30-share average briefly wiped out its losses in 2020 during Thursday's meeting and is now just 0.1% over the year.

Stocks got a boost on Thursday amid volatile trading after the Federal Reserve announced a major policy shift that allowed inflation and employment to soar higher to further prop up the economy.

The move suggests that interest rates are likely to stay near zero for a long period of time. The central bank had previously raised interest rates preventively to avoid higher inflation rates.

"The announcement of a transition to an asymmetrical approach to unemployment is very important and a welcome development," Greg Daco, chief US economist at Oxford Economics, said in a note. "The Fed will be in no hurry to hike rates. When and when the unemployment rate falls, the Fed will endeavor to ensure that the benefits of loose policy are as full as possible."

So far this week, the S&P 500 is up 2.5%, matching the pace of its best week since July 2nd and its fifth straight week for the first time this year. The Dow and Nasdaq are up more than 2% every week so far.

Investors will be monitoring new economic data on Friday, including consumer spending, personal consumption spending and consumer sentiment.

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