Rate-sensitive stocks including Apple, Meta Platforms, Alphabet, and Nvidia fell between 0.5% and 1.5% in premarket trading as the two-year and 10-year Treasury yields scaled multi-year highs. The U.S. central bank delivered a widely anticipated pause on Wednesday and revised economic projections higher with warnings that the battle against inflation was far from over, prompting a weak session for Wall Street. The Fed's updated quarterly projections showed chances of the key rate being lifted one more time in 2023 to a peak range of 5.50%-5.75% and significantly tighter rates through 2024 than previously expected.
- U.S. stock index futures declined on Thursday as growth stocks took a hit from a jump in Treasury yields after the Federal Reserve held interest rates steady while hinting at another hike this year.
The Fed's updated quarterly projections showed chances of the key rate being lifted one more time in 2023 to a peak range of 5.50%-5.75% and significantly tighter rates through 2024 than previously expected. "A variety of factors could weigh on the economy in the fourth quarter and push the Fed to remain on hold due to below-trend growth and lower core inflation."
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Futures inch up on hopes of pause in Fed rate hikes(Reuters) - U.S. stock index futures edged higher on Wednesday on expectation of a pause in interest-rate hikes by the Federal Reserve, even though ...
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Futures inch up on hopes of pause in Fed rate hikes(Reuters) - U.S. stock index futures edged higher on Wednesday on expectation of a pause in interest-rate hikes by the Federal Reserve, even though ...
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Futures inch up on hopes Fed may pause interest rate hikesKitco News collects and features the top financial, economic and geopolitical news from around the world. Kitco's aggregated sources include some of the top newswires in the world including the Association Press, Canadian Press, Japanese Economic Newswire, and United Press International.
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