Futures rebound, Walt Disney, BOJ - what's moving markets
Investing.com -- Wall Street looks set to continue the rebound from Monday's sharp selloff, helped by the Bank of Japan ruling out further rate hikes during this period of turbulence. The global earnings season has continued, and the focus Wednesday is likely to be on numbers from entertainment giant WaltU.S. stock futures rose Wednesday, continuing the gains of the previous session after Wall Street snapped three days of declines.
Revenue from the Experiences division is expected to continue to show robust momentum, particularly in the international segments, but its media and entertainment segment could face significant challenges.BOJ's deputy governor, Shinichi Uchida, said on Wednesday the central bank won't hike interest rates when markets are unstable, playing down the chance of a near-term hike in borrowing costs.
Citi analysts said that U.S. markets were at the “epicenter” of this market rout, especially after disappointing readings on the jobs market, but the BOJ also remained a key point of uncertainty, especially over whether the central bank will hike rates further beyond its July hike. He has pushed a progressive agenda that includes free school meals, goals for tackling climate change, tax cuts for the middle class and expanded paid leave for workers.
Novo Nordisk is facing increasing competition in the weight loss space, both from smaller companies and from pharmaceutical giants such as Roche, which last month shared promising early-stage trial data from its own obesity drug candidate.) stock slumped over 10% after the German sportswear giant narrowed its outlook for full-year core profit, citing currency headwinds, higher freight costs and continued muted consumer sentiment.
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