Wall Street set to open higher after mixed policy signals from Fed

Microsoft Corp rose 1.4% in premarket trading and was the biggest gainer among Dow-listed stocks after it announced a $40 billion share buyback plan. Fed Chair Jerome Powell posited a "favorable" outlook for the U.S. economy on Wednesday and said future rate cuts would be "largely data-dependent". "I think the Fed essentially left the door open to do whatever is necessary," said Randy Frederick, vice president of trading and derivatives for Charles Schwab in Austin.

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