Wall Street is expected to be hesitant before trading on Friday, after its correction the day before led by the Nasdaq…
(Boursier.com) – Wall Street is expected to be hesitant before trading on Friday, after its correction the day before led by the Nasdaq. The S&P 500 advanced 0.1%, the Dow Jones posted a comparable gain, but the Nasdaq lost 0.1%. Markets remain feverish and investors are very divided, as the latest comments from regional Fed officials showed the determination of the American central bank to fight inflation again by keeping rates at a restrictive level for an extended period . Previously, Jerome Powell, head of the American monetary institution, had meanwhile left hope for a monetary pivot by acknowledging the start of the disinflation process.
According to the CME Group’s FedWatch tool, the probability of another 25 basis point rate hike on March 22, following the upcoming monetary meeting, stands at 90.8%, down from 9.2%. probability for a move of 50 basis points. The US fed funds rate range is currently 4.5 to 4.75%, after a quarter-point rise at the start of the month. The Fed’s Christopher Waller and Patrick Harker will speak again this Friday.
Some economic statistics are also expected today. The University of Michigan’s preliminary index of US consumer sentiment for February will be released at 4 pm (FactSet consensus of 64.6, close to the previous month’s level). The US budget balance for January will be revealed at 8 p.m.
Among the quarterly financial publications of the day on Wall Street, operators will follow in particular IQVIA, Mettler-Toledo, Global Payments And Polestar.
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