Latest News: U.S. stock futures saw a minor rise in early trading on Tuesday, as Wall Street awaited a vital inflation report that could influence the Federal Reserve's interest rate decisions. Based on Bloomberg's consensus estimates, economists are expecting a 6.2% boost in headline CPI from the same period last year, with projections also indicating a 0.5% increase in CPI from the previous month.
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Latest News: The Nasdaq 100 futures increased on Monday as traders were looking forward to the release of the latest inflation data in the coming days. The top companies that heavily weigh on the index, such as Amazon.com, Alphabet (Google's parent company), Tesla, and Microsoft, experienced gains ranging from 0.5% to 1.5% during pre-market trading.
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Latest News: Before the opening of the stock market on Friday, US stock futures were headed downward, with large tech stocks showing weaker performance in pre-market trading, indicating a lackluster end to the week on Wall Street. In terms of economic data, investors are looking forward to the outcome of the University of Michigan's consumer sentiment survey, which will be released on Friday morning. The survey results could provide additional support for the idea of a decrease in inflation.
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The Nasdaq 100 index was mostly unchanged. At a gathering in Washington, Powell repeated that the economy is starting to experience disinflation and that the Federal Reserve has the means to bring inflation down to its target of 2%. However, he also warned that if the labor market remains strong, the final interest rate set by the Fed may be higher than anticipated.
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U.S. Index futures showed instability in Tuesday's early trading, in anticipation of Federal Reserve Chair Jerome Powell's upcoming public speech in Washington D.C. Powell is scheduled to participate in an interview with David Rubenstein, co-founder of the Carlyle Group, at the Economic Club of Washington D.C. at around 17:40 GMT. Investors are generally anticipating Powell to take a strong stance in his remarks, as markets were pleased by his recent indication of disinflation in the economy after the Fed's rate-setting meeting and following Friday's impressive jobs report that showed a growth of 517.000 in payrolls for January.
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On Monday, the U.S. stock market's future prices dropped as investors await further information from companies' reports being released this week and also eagerly anticipate a speech from the U.S. Federal Reserve Chairman, Jerome Powell. This speech will help determine the future trajectory of interest rate increases made by the central bank.
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Following a two-day meeting, the highly anticipated interest rate decision by the US central bank was announced, with the Fed slowing down the increase of interest rates as expected, implementing a 25-basis point increase.
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The major Wall Street stock indexes closed higher on Tuesday, wrapping up a strong month of gains after a tumultuous 2022. The belief that the recent interest rate hike cycle may be ending has encouraged a shift back to stocks, particularly in growth-oriented market segments. The Federal Reserve is widely predicted to increase interest rates by 25 basis points later in the day, marking a reduction from the series of significant interest rate hikes experienced throughout the previous year. The announcement is expected to be released at 19:00 GMT.
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Nasdaq 100 futures are down by nearly 1% ahead of market opening, due to the climbing dollar index (DXY) and the Fed's upcoming rate decision. The Fed is predicted to raise the fund’s rate to 4.50-4.75% tomorrow. This has already been priced into the market. Any unexpected rate change could result in significant market fluctuations. Additionally, the market is anticipating a more aggressive stance from Powell in his speech after the interest rate announcement.
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