Futures fall 1% as concerns mount over further stimulus

Futures fall 1% as concerns mount over further stimulus
  • Off their overnight lows, U.S. stock index futures are still down 1% following a session that turned sour yesterday after the big Fed meeting.
  • While the FOMC said interest rates could stay anchored to the zero-bound through 2023 (as the central bank tries to spur inflation), Jerome Powell kept asset purchases at current levels and sounded some alarm bells.
  • “More fiscal support is likely to be needed,” he declared, signaling the Fed can’t rescue the economy alone and Congress needs to act quickly on another coronavirus relief package.
  • On today’s economic calendar, Wall Street will get the latest look at U.S. weekly jobless claims, U.S. housing starts data and the Philly Fed Manufacturing Index.

Want to know more on Futures fall 1% as concerns mount over further stimulus click here go to market news source.
Market news summary from Seeking Alpha Market News.
Author:

Follow us get Market News Update
Close

Market News Language