Quotes of futures for US stock indices change without any dynamics on Wednesday.
Investors fear that the US Federal Reserve’s determination to fight persistently high inflation will continue to push up borrowing costs, hurting the economy and corporate profits, MarketWatch writes.
“Our main view is that further tightening of US financial conditions is unlikely to stop until the economy either enters a clear recession or shows steady progress on inflation,” wrote Goldman Sachs analyst Dominic Wilson.
The yield on ten-year US government bonds rose above 4% per annum during trading on Wednesday, updating the maximum since April 2010, according to The Wall Street Journal. Moreover, the yield of US government bonds shows a record growth rate in four decades amid fears that the Fed is not going to abandon its policy of raising rates to combat the highest inflation in four decades.
Meanwhile, Hurricane Ian is approaching the US state of Florida, which has almost reached the fifth category on the scale of hurricane winds, the Associated Press reported on Wednesday.
According to the US Air Force, “Ian” rapidly gained strength in the Gulf of Mexico and at 7 am local time (14:00 KST) was 105 km from the coastal city of Naples, which is located in Florida.
The state’s losses from the effects of the hurricane could exceed $45 billion, Enki Research expert Chuck Watson predicted. Ian could be one of the eight worst hurricanes in US history, according to the National Oceanic and Atmospheric Administration.
Shares of Tyson Foods Inc. rise in price by 0.5%. The American food manufacturer made changes in the company’s management, including replacing the financial director.
Papers Lyft Inc. decrease by 1.1%. The American taxi ordering service will stop hiring new employees before the end of this year.
Share price of Apple Inc. decreases by 2.3%. The company is abandoning plans to increase production of new iPhone 14 models due to weak demand, Bloomberg writes, citing people familiar with the matter.
The value of the December futures E-mini on the Dow Jones index by 15:43 CSK increased by 0.37% and amounted to 29310 points. Quotation of the December E-mini futures on the S&P 500 rose by this time by 0.23%, to 3669.50 points. Futures on the Nasdaq 100 index for December lost 0.13% and reached 11,319 points.
