*U.S. STOCK FUTURES POINT TO HIGHER OPEN AFTER WORST WEEKLY ROUT OF 2023 - $DIA $SPY $QQQ 🇺🇸🇺🇸
- Futures tracking the main U.S. indexes rose on Monday after Wall Street posted its worst weekly performance of 2023 on fears that the Federal Reserve would keep raising rates this year.logged its third consecutive week of losses due to stronger-than-expected economic data and signs of elevated inflation.
Futures pointed to a slight recovery in market sentiment on Monday as some of the rate-sensitive growth stocks rose in premarket trading. Tesla rose 2% after the electric carmaker said its plant in Brandenburg near Berlin is producing 4,000 cars per week, three weeks ahead of schedule according to a recent production plan reviewed by Reuters.
However, U.S. Treasury yields continued to rise, with the yield on two-year notes, which are the most sensitive to short-term interest rate expectations, rising as high as 4.84% to touch its strongest level since Nov 4. Some traders are even betting on a 50-basis-point rate hike in March, although the odds are low at around 25%, after data last week showed the Personal Consumption Expenditures price index, the metric by which the Fed measures its 2% inflation target, rose 5.4% last month from a year earlier.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The stock market's euphoric rally has been a head fake: Wall StreetThe stock market's euphoric rally has been a head fake, Wall Street's top strategists warn
Read more »
Recession outlook: 5 Wall Street experts forecast fate of US economySoft, hard, or no landing at all: Here's what 5 Wall Street experts are saying about the fate of the US economy in 2023
Read more »
Wall Street has its eyes set on UkraineWall Street really wants to invest in Ukraine, and some of the top players are doing more than sniffing around at the prospects.
Read more »
Wall Street’s most overbought stocks include PepsiCo and this little-known insurance companyInvestors should consider easing exposure to names that are still overbought. They can gauge this with the relative strength index.
Read more »
How big investors are playing the latest A.I. trend overtaking Wall StreetIn the weeks since ChatGPT's debut, shares of any company related to artificial intelligence are on a tear. How big investors recommend playing the trend.
Read more »
Top Wall Street analysts expect these stocks to thrive despite macro pressuresTipRanks analyst ranking service pinpoints Wall Street's best-performing stocks, including Walmart & Datadog.
Read more »