U.S. stock futures traded lower Monday, as investors braced for more Federal Reserve interest-rate tightening later this week.
What’s happening On Friday, the Dow Jones Industrial Average DJIA fell 139 points, or 0.45%, to 30822, the S&P 500 SPX declined 28 points, or 0.72%, to 3873, and the Nasdaq Composite COMPdropped 104 points, or 0.9%, to 11448.What’s happening On Friday, the Dow Jones Industrial Average DJIA fell 139 points, or 0.45%, to 30822, the S&P 500 SPX declined 28 points, or 0.72%, to 3873, and the Nasdaq Composite COMP dropped 104 points, or 0.9%, to 11448.
“The 2023 median, effectively communicating the Fed’s terminal rate, may be 4.25-4.5%. Despite the dramatic upward revisions to policy rate projections, risks remain skewed to the upside: it is much easier to see scenarios where policy rates reach above 5% than where the cycle terminates below 4%,” said economists at Citi led by Andrew Hollenhorst.
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