📣UPCOMING MARKET #NEWS 📣
🔹Prelim GDP - Thursday📅
🔹Unemployment Claims - Thursday📅
🔹Core PCE Price Index - Friday 📅
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U.S. stocks fell on Wednesday amid further gains in Treasury yields and concern over the timing and scale of possible interest rate cuts from the Federal Reserve.
📌A slide in bonds dragged down stocks as another weak sale of Treasuries raised concern that funding the US deficit will drive up yields at a time when the Federal Reserve is in no rush to cut rates.
📌Conflicting expectations on the size and the timing of potential interest rates have kept the market on edge since the start of this year.
Sticky inflation and hawkish comments from central bankers have forced traders to temper down rate cut expectations to only one by November or December, per the CME FedWatch Tool, from multiple cuts expected at the start of the year.
📌Stocks held their losses following the release of a U.S. Fed survey. It showed U.S. economic activity continued to expand from early April through mid-May but firms grew more pessimistic about the future while inflation increased at a modest pace.
