Premarket: Stocks stumble on growth fears ahead of U.S. payrolls

Global stocks were set to end a roller-coaster week in the red as investor anxiety about U.S. growth combined with downbeat earnings weighing on tech stocks, while gold, government bonds and currencies seen as safe havens gained.

The market mood soured after weaker-than-expected U.S. factory data on Thursday sparked fears the U.S. Federal Reserve may have harmed the economy by holding benchmark borrowing costs at a 23-year high of 5.25%-5.5% for a year. Ahead of the keenly watched U.S. non-farm payrolls report later in the day, money markets on Friday priced a 31% probability the Fed will cut rates by 50 basis points next month. Economists expect U.S. employers added 175,000 new hires in July, down from 206,000 a month earlier.

The two-year yield, which typically reflects near-term interest rate expectations, touched its lowest since May 2023 before bouncing slightly higher to 4.14%. Bond yields move inversely to prices.“The market has gone to pricing in three Fed cuts by year end, and while that does feel like we have jumped the gun, investors will wait for today’s payrolls to confirm or deny this.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Premarket: Commodities fall, stocks steady ahead of Fed, BOJ rate decisionsThe S&P 500 has steadied after a two-week downturn and futures were flat
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Premarket: Stocks rally to record highs ahead of U.S. inflation dataCPI figures are expected pave the way for the Fed to start its long-awaited interest rate cut cycle as soon as September
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Premarket: Stocks rise, yen gains after BOJ hikes ratesInvestors prepare for U.S. Fed decision
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Premarket: Stocks gain in packed week of earnings and rate decisionsFed, BOE and BOJ all meet this week
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Premarket: Stocks rebound after brutal selloff as traders await U.S, price dataMarkets stabilize after a week in which global equities have tumbled almost 2 per cent
La source: globeandmail - 🏆 5. / 92 Lire la suite »

Premarket: Tech tailspin whacks world stocks, yen roars to 2-½-month peakTraders react to the worst day for the Nasdaq since 2022 after underwhelming earnings from Alphabet and Tesla
La source: globeandmail - 🏆 5. / 92 Lire la suite »