Dow futures pre market shows a lift of 70 points on renewed

Dow futures pre market shows a lift of 70 points on renewed buying interest in financials, following stronger profit margins reported by major banks. Analysts see potential for a short-term rally if macro data doesn’t disappoint. Cleveland Fed President Beth Hammack said that it is “challenging time” for the Federal Reserve as inflation pressures persist and the labor market has weakened. Hammack told CNBC that she is still concerned about inflation, especially from the services sector. Data released last week showed that inflation remains well above the Fed's target . The Fed cut its key interest rate this month for the first time since December amid concerns about the labor market and signaled more cuts could be coming. Hammack, who will speak at a European Central Bank event today, is one of several Fed officials due to deliver remarks this week. Editor’s Note: The future prices of benchmark tracking ETFs, and the lede were updated in the story. Dow futures pre market pushed higher today on expectations that consumer confidence will remain above 100, a sign the U.S. economy can sustain moderate growth. Bulls are targeting the 38,500 resistance level.