US stock futures steady as rate cut bets build after CPI data; Powell awaited
Investing.com-- U.S. stock index futures steadied in evening deals on Wednesday after in-line consumer inflation data shored up bets on a December rate cut, with an upcoming speech by Federal Reserve Chair Jerome Powell set to provide more cues.
While Wednesday’s consumer price index reading was in line with expectations, it still showed inflation remaining sticky, which raised doubts over just how much further the Fed will cut interest rates during this easing cycle.Traders were pricing in a 85.3% chance for a 25 basis point cut next month, up sharply from a 60.2% chance seen earlier this week. Traders were also pricing in a 14.
A sharp increase in Treasury yields, following Trump’s victory, pressured markets in recent sessions.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. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
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