{"id":127048,"date":"2022-05-05T13:01:52","date_gmt":"2022-05-05T13:01:52","guid":{"rendered":"https:\/\/fin2me.com\/?p=127048"},"modified":"2022-05-05T13:01:52","modified_gmt":"2022-05-05T13:01:52","slug":"futures-slip-after-fed-driven-rally-on-wall-street","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/futures-slip-after-fed-driven-rally-on-wall-street\/","title":{"rendered":"Futures slip after Fed-driven rally on Wall Street"},"content":{"rendered":"

(Reuters) – U.S. stock index futures slipped on Thursday, a day after the Federal Reserve\u2019s less aggressive tone sparked a rally on Wall Street, with investors awaiting jobs data this week for more clues on the path of interest rates.<\/p>

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. May 4, 2022. REUTERS\/Brendan McDermid<\/figcaption>

Citigroup slipped 0.7% in premarket trading to lead losses among big banks. Megacap companies slid, with Meta Platforms and Tesla Inc down over 1% each.<\/p>\n

The benchmark S&P 500 index recorded its biggest one-day percentage gain in nearly two years on Wednesday after the Fed raised its benchmark overnight interest rate by half a percentage point as expected and said it would begin shrinking its $9 trillion asset portfolio next month in an effort to further lower inflation.<\/p>\n

Calming investors\u2019 anxiety about aggressive policy tightening, Fed Chair Jerome Powell explicitly ruled out raising rates by 75 basis points in a coming meeting.<\/p>\n

The focus shifts to the U.S. Labor Department\u2019s closely watched monthly employment report on Friday for clues on labor market strength and its impact on the monetary policy.<\/p>\n

Worries about Fed policy moves, mixed earnings from some big growth companies, the conflict in Ukraine and pandemic-related lockdowns in China have hammered Wall Street recently, overshadowing a better-than-expected quarterly reporting season.<\/p>\n

The tech-heavy Nasdaq has declined 17.1% year-to-date, compared with a 9.8% drop in S&P 500 and a 6.3% fall in the blue-chip Dow.<\/p>\n

Of the 368 companies in the S&P 500 that have reported earnings as of Wednesday, 79.9% have topped analyst expectations. The first-quarter earnings is expected to grow 9.7% year-over-year.<\/p>\n

At 06:53 a.m. ET, Dow e-minis were down 133 points, or 0.39%, S&P 500 e-minis were down 23.5 points, or 0.55%, and Nasdaq 100 e-minis were down 95.25 points, or 0.7%.<\/p>\n

Twitter Inc rose 2.6% as Elon Musk secured $7.14 billion in funding from a group of investors that includes Oracle Corp co-founder Larry Ellison to fund his $44 billion takeover of the social-media company.<\/p>\n

EBay Inc slid 7.4% after the e-commerce retailer projected downbeat second-quarter revenue as growth slows in the sector after two years of rapid expansion during the pandemic.<\/p>\n

Albemarle Corp jumped 14.1% as the lithium producer raised its full-year forecasts on robust demand and higher prices for the metal used in electric-vehicle batteries.<\/p>\n

U.S.-listed shares of China\u2019s JD.com, NetEase Inc, Pinduoduo and Bilibili Inc fell between 2.4% and 3.8% as the U.S. securities regulator added over 80 firms to a list of entities facing possible expulsion from American exchanges amid a long-running U.S.-China audit standoff.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – U.S. stock index futures slipped on Thursday, a day after the Federal Reserve\u2019s less aggressive tone sparked a rally on Wall Street, with […]<\/p>\n","protected":false},"author":3,"featured_media":127047,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"\nFutures slip after Fed-driven rally on Wall Street - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/futures-slip-after-fed-driven-rally-on-wall-street\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Futures slip after Fed-driven rally on Wall Street - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(Reuters) – U.S. stock index futures slipped on Thursday, a day after the Federal Reserve\u2019s less aggressive tone sparked a rally on Wall Street, with [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fin2me.com\/business\/futures-slip-after-fed-driven-rally-on-wall-street\/\" \/>\n<meta property=\"og:site_name\" content=\"Fin2me\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-05T13:01:52+00:00\" \/>\n<meta name=\"author\" content=\"Mark\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/fin2me.com\/wp-content\/uploads\/2022\/05\/Futures-slip-after-Fed-driven-rally-on-Wall-Street.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/fin2me.com\/business\/futures-slip-after-fed-driven-rally-on-wall-street\/\",\"url\":\"https:\/\/fin2me.com\/business\/futures-slip-after-fed-driven-rally-on-wall-street\/\",\"name\":\"Futures slip after Fed-driven rally on Wall Street - 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