U.S. stock futures inched cautiously higher on Friday ahead of a shortened trading session.
signaled that the central bank is seeing progress in its fight against high inflation and is looking to slow the pace of rate hikes.
"A substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate," the minutes stated.4 Min AgoEuropean markets were muted on Friday to close out an otherwise upbeat week, as theThe pan-European slipped 0.2% below the flatline in early trade, with basic resources and retail shedding 0.7% as most sectors and major bourses traded in mildly negative territory.CNBC Pro: UBS says recession in 2023 will be an inch deep but a mile wide — and that’s not priced into stocks
Global economic conditions will shift next year and that's going to flip which markets and sectors underperform, according to the chief strategist of UBS Investment Bank. "It's an inch deep but it's a mile wide," he said of the expected recession. "Global growth is at 2% and that is not priced into stocks," Bhanu Baweja told CNBC's "Squawk Box Europe" Wednesday.
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