Wall Street futures were down early Wednesday morning as the latest reading on U.S. inflation fuelled fears of a longer path of rate hikes by the Federal Reserve. What Canadian investors need to know today:
Wall Street futures were down early Wednesday morning as the latest reading on U.S. inflation fuelled fears of a longer path of rate hikes by the Federal Reserve. Major European markets steadied after a mixed start.In the early premarket period, futures linked to the Dow, S&P and Nasdaq were all in the red. On Tuesday, the Down closed down 0.46 per cent and the S&P 500 slid 0.03 per cent. The Nasdaq ended up 0.46 per cent. The“The [U.S.
“Markets are pricing in the possibility of one but the anticipated year-end rate is now significantly higher, as is the terminal rate.” On the corporate side, Canadian investors got the latest results from Suncor Energy after Tuesday’s closing bell. Suncor Elsewhere, the Canadian Real Estate Association will give the latest snapshot of this country’s real estate market ahead of the opening bell. Statistics Canada will offer a reading on December factory sales this morning. Early estimates suggested a decline of 1.8 per cent month-over-month and economists aren’t looking for a big revision.
The day range on Brent was US$84.15 to US$85.46 in the predawn period. The range on West Texas Intermediate was US$77.57 to US$78.83. Both benchmarks were down more than 1 per cent ahead of the North American opening bell. “The bears are in charge of the market this morning as the latest API data showed a massive 10 million barrel build in U.S. oil inventories last week, while Biden Administration announced there would be further releases from the strategic petroleum reserves of 26 million barrels earlier this week,” Swissquote senior analyst Ipek Ozkardeskaya said.
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