U.S. stock index futures were slightly higher Friday morning, amid optimism rooted in expectations of a Federal Reserve rate cut later this month.

At around 04:25 a.m. ET, Dow futures rose 87 points, indicating a positive open of more than 83 points. Futures on the S&P and Nasdaq were both seen slightly higher.

Federal Reserve Chairman Jerome Powell suggested on Thursday that the U.S. central bank has room to ease monetary policy at its next meeting. Powell’s comments came during his second day of testimony before Congress.

Source: Bloomberg