Stocks struggle as U.K. inflation fuels hawkish bets - BNN Bloomberg

📆 21/06/2023 14:19:00
📰 BNNBloomberg

⏱ Reading Time:
15 sec. here
2 min. at publisher
📊 Quality Score:
News: 9%
Publisher: 50%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Stocks struggled for direction as still-rampant consumer price pressures in Britain proved a cautionary tale for global central banks fighting inflation and markets wagering they're close to the end of their tightening cycles.

Futures contracts on the S&P 500 fluctuated in a narrow range after the gauge notched its first back-to-back losses in nearly four weeks. Economic bellwether FedEx Corp. tumbled in extended U.S. trading after its outlook fell short of analyst consensus estimates on weakened demand.

“The BOE is still not able to get a control on the underlying pressures,” said Pooja Kumra, senior European rates strategist at Toronto Dominion Bank. “A key risk for markets is whether Powell provides any conditions for the FOMC getting back to their hiking cycle after a pause in June.”

Write Comment

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BNN Bloomberg - Canadian Business News, TSX Today, interest rates and Bank of Canada coverageWhile the overall level of future volatility has come down, it is still elevated and now covers the seasonally weak September-October period, which is always something to consider, Larry Berman writes for
Source: BNNBloomberg - 🏆 83. / 50 Read more »