Global stock markets and Wall Street futures rose Tuesday ahead of a U.S. inflation update and a Federal Reserve decision on another possible interest rate hike.
A person stands in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Tuesday, June 13, 2023, in Tokyo. Asian stock markets were mostly higher Tuesday ahead of a U.S. inflation update and a Federal Reserve decision on another possible interest rate hike. –
On Tuesday, the S&P 500 future was up 0.3%. That for the Dow Jones Industrial Average gained less than 0.1%. “The bull market rally looks like it doesn’t want to stop,” said Edward Moya of Oanda in a report. “Wall Street appears confident that the Fed will not be delivering its 11th straight rate hike this week.”
In Asia, the Shanghai Composite Index gained 0.2% to 3,233.67 after China's central bank lowered its one-week lending rate for the first time since last summer. That appeared to reflect official concern about the health of China's economic recovery after growth in factory and consumer activity weakened.
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