On Wednesday, stock futures indicated a downward trend, pointing to a continuation of the previous session’s losses on Wall Street.
The futures linked to the Dow Jones Industrial Average declined by 172 points, equivalent to a 0.5% decrease. Similarly, S&P 500 futures and Nasdaq-100 futures experienced a drop of 0.5% and 0.6% respectively.
Following a recent decrease, triggered by the 10-year Treasury note yield surpassing 4% and Federal Reserve Governor Christopher Waller’s cautionary remarks on a potential delay in monetary policy easing, Wall Street concluded a day with losses.
European Central Bank President Christine Lagarde stated her expectation of a rate cut later in the year, highlighting the ECB’s data-driven approach to policy.
Currently, traders are forecasting a roughly 65% likelihood of the Federal Reserve commencing rate cuts in March. This optimism stems from growing hopes for a strategic shift, according to CME Group’s FedWatch tool.
Source (CNBC)
