Futures higher, potential Fed rate cut size in focus - what's moving markets
Investing.com -- Stock futures on Wall Street edge higher on Monday, as debate swirls around the scale and speed of potential Federal Reserve interest rate cuts following a weaker-than-anticipated jobs report. Planemaker Boeing were trading up by 1.6% at $68.78 a barrel. Brent had fallen by 10% at Friday's close to its lowest level since December 2021, while WTI had decreased to its lowest mark since June 2023, according to Reuters.
The US National Hurricane Center said over the weekend that a weather system in the Gulf of Mexico is projected to turn into a hurricane prior to hitting the northwestern US Gulf Coast -- a crucial region for American refining capacity. Elsewhere, the prospect of lower interest rates also helped support crude. In theory, a dip in borrowing costs could bolster economic activity and spur an uptick in oil demand.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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