Stocks Are Moving Lower In The Pre-Market As The Banking Sector & Fed Policy Remain In Focus
U.S. stock futures are lower. Stocks are moving lower in the pre-market as the banking sector and Fed monetary policy remain in focus. Yields are ticking lower as money markets are pricing the increased probability of a 25 basis point rate hike at next week’s FOMC meeting. Weekly jobless claims came in lower than expected (192k vs 205k est.) and housing starts surprised to the upside. Asian stocks finished lower and European stocks are moving higher as the ECB announced a 50 basis point rate hike. Industrial production, consumer sentiment and leading indicators data will be released tomorrow morning. Crude and gold are rising while the US Dollar is weakening.
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