U.S. stock index futures inched higher during overnight trading on Wednesday.
The Fed won't raise rates till 2024 at the earliest, says fmr. MS strategist Adam ParkerU.S. stock index futures inched higher during overnight trading on Wednesday, after the CDC confirmed the first known case of the omicron variant in the U.S., sending stocks tumbling.
"At this point, the economy is very strong and inflationary pressures are higher, and it is therefore appropriate in my view to consider wrapping up the taper of our asset purchases, which we actually announced at the November meeting, perhaps a few months sooner," he said in a Congressional testimony. "I expect that we will discuss that at our upcoming meeting."
Travel-related stocks were especially hard hit as investors feared that the omicron variant could lead to stricter travel requirements. Cruise companies, airlines and hotel stocks all finished the session deeply in the red.
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