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Market Snapshot
U.S. stock futures struggle as investors weigh up higher-for-longer rates
Published: Nov. 10, 2023 at 4:34 a.m. ET

Driving angst were comments from Federal Reserve Chairman Jerome Powell, who told an International Monetary Fund panel on Thursday that the central bank was wary of “head fakes” from inflation, and the “2% goal was not assured.”

“This sudden hawkish tone contrasts with the dovish hints provided during the last FOMC meeting, leaving investors with a blurry feeling about the outlook on monetary policies,” said Pierre Veyret, technical analyst at ActivTrades.

“Investors are likely to now wait for clear direction and action from central banks rather than relying on rumors and semantics. That said, equity markets may consolidate in a lower volatility environment as investors will wait for next week’s data (US/EU/UK CPI) before bringing significant adjustments to their risk exposure,” Veyret added.

U.S. consumer price data for November will be released next Tuesday.

Investors will be looking out for more Fed comments on Friday, with Dallas Fed President Lorie Logan speaking at 7:30 a.m., Atlanta Fed Pres. Raphael Bostic at 9 a.m., then San Francisco Fed Pres. Mary Daly at 1 p.m. In between, the University of Michigan’s preliminary consumer sentiment survey for November will be released at 10 a.m., all times Eastern.

https://www.marketwatch.com/story/u-s-st...s-0dd59d2f