Contracts on the S&P 500 and Nasdaq 100 both fell more than 0.5 per cent, suggesting U.S. stocks may open lower when trading resumes after the Independence Day holiday. The yield on policy-sensitive two-year Treasuries drifted about five basis points lower to 4.89 per cent.
The latest evidence of slowing economic growth around the globe is sapping demand for equities after a stellar rally in the first half, driven mostly by mega-cap tech stocks. Major central banks including the Federal Reserve and European Central Bank are still in tightening mode, clamping the brakes on economic growth.
With more interest-rate hikes anticipated from the Fed and the ECB in July, an aggregate gauge of borrowing costs calculated by Bloomberg Economics now shows a peak of 6.25 per cent this quarter, up from six per cent foreseen three months ago. Later Wednesday, traders will monitoring the minutes of the Fed's last policy meeting, which left Wall Street perplexed as officials paused their rate-hike cycle after 10 consecutive moves, but forecast two additional increases this year.
“This brings focus back on slowing growth momentum and the recent step-up in geopolitical angst,” Charu Chanana, market strategist at Saxo Capital Markets, said of the China services data.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Sumber: BNNBloomberg - 🏆 83. / 50 Baca lebih lajut »
Sumber: BNNBloomberg - 🏆 83. / 50 Baca lebih lajut »