Stock futures are flat as Wall Street weighs likelihood of higher rate hikes

S&P 500 increased 0.14%

Dow Jones industrial futures were flat Wednesday at night as fresh jobs were processed by traders.

Dow Jones industrial average futures decreased by 6 points which is 0.02%. S&P 500 futures decreased 0.01% and Nasdaq 100 futures decreased 0.03%.

During the regular session Dow jones decreased by 58.06 points which is 0.18% that is its 2nd negative session consecutively.

S&P 500 increased 0.14%

“The market is finally coming to the realization that elevated interest rates are here to stay and the idea of a Fed pivot anytime soon is wishful thinking,” This was mentioned by James Demmert.

“The global economy is more resilient than many realized, which will make inflation stickier and is extending the central bankers terminal rate target. Inflation has come down but is nowhere near the 2% target, so there is much work to be done given the stubborn strength of the economy and wage inflation.,” he said.

China’s consumer price index for February came to 1% year on year, coming off from an yearly increase of 2.1% in January.

The figure is lower than Reuters’ forecast which is an increase of 1.9%. Prices of food, alcohol and tobacco went up 2.1%

China’s producer price index decreased by 1.4%.  Japan’s nikkei increased almost 1% in the early hours. The index increased over 2.7%. Nikkei increased 3.12%.

Bitcoin decreased 2.31% to trade at $21,711.8. Ether decreased 2.15% trading $1,532.98. 

Uber shares increased by 2.5%.

Silvergate capital shares decreased 36% after the announcement that it will wind down operations and liquidate Silver bank.

MongoDB database platform provider decreased 8%.

Dow Jones Industrial Averages increased by 12 points which is 0.04%, s&p 500 increased 0.04% and Nasdaq increased 0.01%.

- Published By Team Nation Press News