Federal Reserve Chairman Jerome Powell heads to the Senate for the second day of his congressional testimony following his markets-approved address to the House.
Powell's comments to the House Financial Services Committee Wednesday were level-headed and rather implicit as usual, yet all indications were that there will be an interest rate cut soon.
"Inflation pressures remain muted," Powell said.
He mentioned the 3.1% wage growth is certainly not a negative, but that it's not enough to support higher inflation.
The Fed's inflation target remains at 2%.
But there's more to this market than the Fed: The Trump administration has launched a probe of France's proposed digital tax which appears to target U.S. tech giants such as Alphabet and Amazon .
Global oil markets extended gains, lifting U.S. crude prices to six-week highs.
Lockheed Martin will keep a helicopter plant it planned to close open after its CEO met with Trump.
Delta reported earnings and beat estimates on both top and bottom lines, sending the stock higher by 2.2% in premarket trading.
Delta was the first of the major airlines to report.
The entire airline group -- American Airlines , Southwest Airlines and United Airlines -- traded higher Thursday morning.
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A Flight Through Delta Airlines History