Wall Street futures nudged higher this morning amid concerns over still high U.S. inflation and the potential for more aggressive rate moves by the Federal Reserve. Here’s what you need to know before stock markets open:
Wall Street futures struggled early Wednesday after the previous session’s deep rout amid concerns over still high U.S. inflation and the potential for more aggressive rate moves by the Federal Reserve. Major European markets were in the red. TSX futures were steady.
“The bigger than expected jump in core prices has prompted speculation the Fed might go for a more aggressive option of a 100-basis-point rate hike when they meet next week.” In Asia, Japan’s Nikkei closed down 2.78 per cent after a weak handoff from Wall Street. Hong Kong’s Hang Seng lost 2.48 per cent.Crude prices were steady after seeing some weakness in the overnight period with economic concerns and the potential impact on demand weighing on sentiment.
Meanwhile, new figures from the American Petroleum Institute show that weekly U.S. crude inventories rose by about 6 million barrels last week.In other commodities, gold prices were slightly higher, helped by a pullback by the U.S. dollar but the gains were limited by expectations that the Fed will act aggressively to control inflation.
Meanwhile, Japan’s yen was higher after reports suggested the Bank of Japan conducted a rate check, whichfor currency intervention, according to Reuters. A rate check involves central bank officials contact dealers and asking for the price to buy or sell the yen. The yen has been trading around a 24-year low against the greenback recently.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Opinion: Public capital is not as cheap as we thinkCanadians need to understand that public capital is every bit as costly as private capital, writes Marcel Boyer. Read more.
Read more »
Canadians’ wealth suffers biggest drop on record as markets, real estate swoonCanadians now owe $1.82 for every dollar of disposable income
Read more »
How I Care: 'I want to believe there will be a cure in our lifetime'Sass Khassam says he is a realist when asked whether or not he thinks there will be a cure for multiple myeloma in the future — via healthing_ca MyelomaCanada healthing myeloma bloodcancerawareness ...
Read more »
How I Care: 'I want to believe there will be a cure in our lifetime'Sass Khassam says he is a realist when asked whether or not he thinks there will be a cure for multiple myeloma in the future — via healthing_ca MyelomaCanada healthing myeloma bloodcancerawareness ...
Read more »
How I Care: 'I want to believe there will be a cure in our lifetime'Sass Khassam says he is a realist when asked whether or not he thinks there will be a cure for multiple myeloma in the future — via healthing_ca MyelomaCanada healthing myeloma bloodcancerawareness ...
Read more »