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After starting with a mildly positive tone following yesterday’s Fed 0.75% rate hike – the biggest U.S. rate hike in 22 years – global markets have turned sharply to the downside. The turning point likely came with a surprise 0.50% rate hike by the Swiss National Bank – the first rate hike in 15 years from a central bank with a long-standing dovish policy stance. That increased market anxiety over how entrenched rising inflation has become around the globe.
On a daily basis, U.S. stock indexes have attained oversold status, so an occasional flight-to-quality issue might provide some temporary support. Take into account that the markets remain in a steep downtrend as investors brace for a possible recession and sellers could remain active with so much anxiety and uncertainty.
Juneteenth Trading Schedule: Markets will observe modified trading hours this Monday in observance of Juneteenth. Click the
LINK for more info.
Click the
LINK for more info.
June stock index futures will settle into cash on Friday morning right around the open.
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06-17-2022
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Economic Reports, Source:
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