US stocks- Futures subdued ahead of Fed rate decision
时间:2024-06-02 05:59:51 阅读(143)
US stock index futures were mostly flat on Wednesday ahead of a widely expected super-sized rate hike from the Federal Reserve, with investors looking for signs the central bank could temper its aggressive stance on future interest rate increases.
The Fed is expected to deliver a fourth straight 75 basis point hike at the end of its policy meeting on Wednesday, with the decision due at 2:00 p.m. ET (1800 GMT). Focus will be on commentary from Fed Chair Jerome Powell after the decision.
Also read: Fusion Micro Finance IPO opens for public subscription, GMP rises; should you subscribe?
The ADP report is expected to show private payrolls rose by 195,000 jobs in October, according to a Reuters poll of economists, after gains of 208,000 in September.
Data on Tuesday also showed a jump in US monthly job openings pointing to strong labor demand.
“The Fed has said they’re going to be data dependent and that is not good because the inflation numbers are still high and unemployment is low,” said Fall Ainina, director of research at James Investments.
“The numbers are still not there for the Fed to really pivot.”
Still, traders are split on the odds of a 50 bps or 75 bps rate hike in December, according to CME Group’s Fedwatch tool.
Meanwhile, Advanced Micro Devices Inc rose 4.3% premarket after it forecast some strength in its data center business, while Airbnb Inc fell 6.1% on a bleak holiday-quarter revenue forecast.
Also read: Windfall tax cut on crude oil; levy on diesel, ATF export hiked in eighth fortnightly review
At 7:07 a.m. ET, Dow e-minis were down 46 points, or 0.14%, S&P 500 e-minis were down 1.25 points, or 0.03%, and Nasdaq 100 e-minis were up 11.25 points, or 0.1%.
Among other stocks, CVS Health Corp gained 4.7% after raising its full-year profit forecast, while Estee Lauder cut its full-year sales outlook, sending the cosmetics maker’s shares down 12.0% premarket.
U.S.-listed shares of Chinese firms Alibaba, JD.com and Baidu rose between 2% and 6%, looking to extend their gains for a second session on rising expectations about easing of strict COVID-19 measures in China.
猜你喜欢
- Gold Price Today, 24 May 2022- MCX gold tops Rs 51000, may trade sideways to up; check support, resistance
- B Capital closes third growth fund series at $2
- Rising yields could pull FPIs back to debt
- Rupee hits all-time low of 77
- Rupee likely to depreciate amid strong dollar, risk aversion in markets; USDINR to trade in this range
- Gold Prices Today, 16 Aug 2022- Gold falls on rise in US Dollar, may trade sideways to bearish today on MCX
- Bangladesh PM Sheikh Hasina re-elected to parliament from Gopalganj-3 constituency
- Gold- Sentiment is bullish, largely data driven next week
- Gold Rates- MCX gold inches higher on expectation that Fed’s hawkish stance may end in near future; support seen at Rs 59940-59770, resistance at Rs 60250- 60430