Wall Street futures pointed higher early Monday as markets try to rebound from back-to-back weekly losses, driven by fears that interest rate hikes by the Federal Reserve and other central banks might tip the U.S. and global economies into recession.
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That “hawkish rhetoric” indicates “mounting pipeline risks of a global recession,” said Tan Boon Heng of Mizuho Bank in a report.U.S. consumer inflation has eased to 7.1% over a year earlier in November from June’s 9.1% high but still is painfully high. The federal funds rate stands at a 15-year high of 4.25% to 4.5%. The Fed forecast that will reach a range of 5% to 5.25% by the end of 2023. Its forecast doesn’t call for a rate cut before 2024.
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Wall Street looks to rebound after 2 down weeksWall Street futures are pointing higher as markets try to rebound from back-to-back weekly losses. Futures for the Dow inched up 0.2% early Monday and futures for the S&P 500 rose 0.4%.
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