U.S. equity futures traded lower Thursday morning after a retreat on Wall Street as markets registered their dismay over the Federal Reserve’s warning that still higher interest rates are in store.Oil prices traded lower on Thursday as the dollar firmed and demand concerned increased over the possibility of further interest rate hikes.Brent crude futures traded around $82.00 per barrel.
In Asia, Tokyo's Nikkei 225 lost 0.4%, the Hang Seng in Hong Kong sank 1.6% and China's Shanghai Composite index edged 0.3% lower. At the same time the Labor Department will release the number of new jobless claims filed last week. Expectations are for 230,000, unchanged from the previous week and indicating continued tightness in the labor market, a condition that Fed chairman Powell noted in the post-meeting press conference. Continuing claims, which track the total number of workers collecting unemployment benefits, are expected to hold steady at 1.671 million, the highest in 10 months.
The Federal Reserve will post industrial production data for November. Factory output is expected to increase 0.1% for the month, following a surprise decline of 0.1% in October.
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Elon uncovered massive fraud, corruption, government collusion at Twitter! Demand sale be voided and wealth returned!
The country ruled by Godless Marxist Demoncrats must fall for people to repent!
More interest hikes. Great!
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