Wall Street gains as earnings come in ahead of more labor market data WHIO TV 7 and WHIO Radio [Video]

Wall Street continued to push higher Thursday after markets swung to a mixed finish a day earlier on news that the Federal Reserve was delaying cuts to interest rates.

Futures for the S&P 500 surged 0.6% before the bell, while futures for the Dow Jones Industrial Average were 0.4% higher.

On Wednesday, Federal Reserve Chair Jerome Powell said it will likely take “longer than previously expected” to get confident enough to cut rates, a move that would ease pressure on the economy and investment prices.

At the same time, Powell said it was unlikely that a rate hike was coming at the Fed’s next policy meeting in June, calming fears swirling in the market.

Traders themselves had already downshifted their expectations for rate cuts this year to one or two, if any, after coming into the year forecasting six or more.

Powell had already hinted rates may stay high for a while. That was a disappointment for Wall Street after …