Breaking News
Investing Pro 0
Black Friday SALE: Up to 50% OFF InvestingPro+ CLAIM OFFER

Dow Futures Rise 90 Pts; Investors Digest Fed Move Ahead of Jobless Claims

Stock Markets Sep 22, 2022 07:18
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
EUR/USD
-0.06%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
US500
-0.03%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DJI
+0.45%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
COST
-0.16%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
DRI
+0.04%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
LEN
-0.09%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Peter Nurse

Investing.com -- U.S. stocks are seen marginally higher Thursday, bouncing after the previous session’s sharp losses, as investors digest another large interest rate hike by the Federal Reserve and the signaling of more to come.

At 07:00 ET (11:00 GMT), the Dow Futures contract was up 90 points, or 0.3%, S&P 500 Futures traded 8 points, or 0.2% higher, and Nasdaq 100 Futures climbed 20 points, or 0.2%.

The major equity averages closed lower Wednesday after the U.S. central bank lifted interest rates by another 75 basis points, as widely expected, but also included a set of projections that put rates on a path to rise above 4.5% next year, a more hawkish trajectory than previously anticipated.

The blue-chip Dow Jones Industrial Average dropped over 500 points, or 1.7%, the broad-based S&P 500 fell 1.7%, and the tech-heavy Nasdaq Composite ended down 1.8%.

Worries about the impact of aggressive interest rate hikes on the economy have hit stocks hard, with the benchmark S&P 500 less than 4% away from its mid-June low, its weakest point of the year.

“We project a mild recession in early-2024. The FOMC's move increases conviction, and the risk is for a potentially earlier recession," analysts at Societe Generale said.

On the economic front, data on weekly jobless claims are expected at 08:30 ET (12:30 GMT), while in the corporate sector, warehouse club Costco (NASDAQ:COST) and restaurant operator Darden Restaurants (NYSE:DRI) are scheduled to report quarterly earnings.

Elsewhere, Lennar (NYSE:LEN) stock rose premarket after the homebuilder reported strong third-quarter results, benefiting from record-high property prices.

Oil prices edged higher Thursday, rebounding after falling to near two-week lows during the previous session as a combination of inventory stock builds, a tightening monetary policy, and a stronger dollar weighed.

U.S. crude inventories rose by 1.1 million barrels last week, according to data from the Energy Information Administration. Additionally, the hawkish stance of the Federal Reserve raised fears of a global recession while also lifting the dollar to a 20-year high, making crude more expensive for foreign buyers.

By 07:00 ET, U.S. crude futures traded 0.8% higher at $83.64 a barrel, while the Brent contract rose 0.8% to $90.52. Both contracts fell more than 1% on Wednesday, and are on track for the first quarterly loss in more than two years.

Additionally, gold futures rose 0.1% to $1,676.55/oz, while EUR/USD edged 0.3% higher to 0.9869.

Dow Futures Rise 90 Pts; Investors Digest Fed Move Ahead of Jobless Claims
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email