US stock futures edged higher on Wednesday, suggesting a potential rebound for equities on Wall Street following a drop in the prior session sparked by strong economic data. The main averages all slipped on Tuesday, weighed down by a jump in benchmark 10-year Treasury yields to an eight-month peak after a raft of economic figures pointed to an unexpected increase in job openings and lingering inflationary pressures.
' data suggests that the economy is maintaining its strong momentum,' analysts at ING said in a note to clients, adding that price gains continue to be'sticky' and concerns over the impact of President-elect Donald Trump's sweeping import tariff plans are'starting to impact corporate thinking and behavior.' The readings, which came ahead of the all-important monthly US employment report later this week, bolstered bets that the Federal Reserve will cautiously approach any possible interest rate reductions in 2025. Markets are now anticiating the Fed will slash borrowing costs by 37.5 points by the end of the year, with the first drawdown not expected until July.Further economic figures are due out on Wednesday, including labor market data that could provide further clarity on potential Fed monetary polic
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Stock futures inch higher as the market heads into holiday-shortened week: Live updatesTrading is expected to be relatively muted during the holiday week.
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