U.S. Stock Futures Are Higher As Global Energy Prices Stabilize
U.S. stock futures are higher. The Federal Reserve is expected to hike benchmark rates by 25 bps today with an announcement at 2. After a signification pullback from multiyear highs, global energy prices have stabilized. Chinese equity indexes jumped higher. The Chinese government announced that it will enact policies to stabilize markets & lessen expected economic slowdowns. Retails sales came in slightly lower than consensus: 0.3% versus 0.4%. The yield on the long bond (30y) was pushed up to 2.51%, highest level since August 2019, this morning compared to its close at 2.48% & the 10y yield eked up a couple basis points. Ukrainian President said a potential peace deal with Russia is starting to “sound more realistic” as negotiations continue today. European markets are trading higher.