Equity futures pointed to losses across the board on Wednesday, as concerns linger over the potential economic hit from the delta variant of the pandemic.
U.S. equity futures indicated a weaker start for Wall Street on Wednesday, with even technology stocks set to falter amid lingering growth worries surrounding the highly contagious delta variant of coronavirus.
What’s driving the market? Tuesday’s mixed session came as investors continued to weigh up last week’s weaker-than-expected U.S. payroll data, with a clutch of Wall Street banks, including Goldman Sachs, cutting their growth targets in the wake of those weak numbers. “There is plenty of demand for workers and there are more job openings than there are unemployed workers,” Bullard told the Financial Times. Getting the two “matched up” will contribute to a “very strong” labor market headed into 2022, he said.
More employment data is ahead, with July job openings due at 10 a.m. Eastern, followed by the Federal Reserve’s Beige Book at 2 p.m. Eastern and consumer credit at 3 p.m. Eastern.
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