2023-06-23 11:46:58
Stock news18:422023-06-23
Dow futures fell nearly 100 points amid concerns regarding the Federal Reserve’s continued interest rate hikes.
As of 6:41 p.m. Thai time, the Dow Jones futures dropped 92 points or 0.27% to 34,118 points.
In a speech to Congress this week, Fed Chairman Jerome Powell reiterated that the Fed will continue to raise interest rates to curb inflation. And signaled that the Fed will raise interest rates twice more to 5.50-5.75% by the end of the year.
Mr Powell also said The Fed held interest rates steady at last week’s monetary policy meeting. It’s just a temporary suspension of interest rate operations. rather than indicating that the Fed has ended its rate-raising cycle.
Investors are keeping an eye on the Purchasing Managers’ Index (PMI) for the manufacturing and service sectors that will be released today.
by InfoQuest News Agency (June 23, 2023)
Tags: Dow Jones futures, stock market, New York stock market, US stock market
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