U.S. futures are little changed a morning after Federal Reserve Chair Jerome Powell whipsawed markets by not changing his tune and making it clear he’s in no rush to appease traders who’ve sent the 10-year U.S. Treasury yield sharply higher in recent weeks.
Last summer as the Faang block was tightening its strangle-hold on equities, a theory was hatched that the only thing that could ever halt the rally in megacap tech would be evidence the economy is healing.
Federal Reserve Chair Jerome Powell fired a warning shot across the bow of the bond market on Thursday but stopped well short of trying to rein in rising long-term interest rates.
China will lay out key economic plans when the government’s biggest annual political gathering begins Friday, with investors watching closely for signals on stimulus withdrawal and longer-term policies to cut reliance on the U.S. for technology.
Global stocks and U.S. futures are slipping this morning as investors await Jerome Powell’s opportunity today to quell their inflation fears.
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