NatalieLopez

 1 Feb 24

tl;dr

Stock index futures are indicating a rebound Thursday following the previous day's selloff, due to remarks from Fed chief Jay Powell regarding the unlikelihood of a March rate cut. Nasdaq 100 futures are up 0.7%, with S&P futures and Dow futures also showing gains. Despite Powell's comments, the mar...

Stock index futures are indicating a rebound Thursday following the previous day's selloff, due to remarks from Fed chief Jay Powell regarding the unlikelihood of a March rate cut. Nasdaq 100 futures are up 0.7%, with S&P futures and Dow futures also showing gains. Despite Powell's comments, the market remains uncertain, and fed funds futures are still pricing in a 35% chance of a rate cut in March, with two jobs reports and CPI reports set to precede the next FOMC meeting.

While rates have stabilized, with the 10-year Treasury yield dropping 1 basis point to 3.95% and the 2-year yield rising 1 basis point to 4.24%, the market is still pricing in six quarter-point rate hikes by year-end. Before the bell, traders anticipate weekly initial jobless claims and a weak ADP print, while manufacturing data for January, including the final measure of the January S&P Global PMI and the January ISM manufacturing index, are also set to arrive. Economists expect a dip to 47.2 in the ISM manufacturing index.

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Disclaimer

The opinions expressed by the writers at Grow My Bag are their own and do not reflect the official stance of Grow My Bag. The content provided on our site is not intended as investment advice, and Grow My Bag is not an investment advisor. We do not endorse buying or selling any cryptocurrencies or digital assets mentioned in our articles. High-risk investments in Bitcoin, cryptocurrencies, and digital assets require thorough due diligence, and all transfers and trades made are at your own risk. Grow My Bag is not responsible for any potential losses and participates in affiliate marketing.
 22 Nov 24
 22 Nov 24
 22 Nov 24