Stocks Churn as Traders Waver on US Rates Outlook – Europe Market Wrap
Stocks lingered below this week’s record highs as reduced forecasts on Federal Reserve policy easing drove a retreat from riskier assets.
US futures contracts were barely changed as Wall Street retreated from all-time highs the previous session, while Europe’s benchmark index fell. The dollar index moved higher, as Treasury rates climbed.
Reddit stock soared in premarket trade after announcing a content agreement with OpenAI. In Europe, luxury conglomerate Richemont rose after announcing Nicolas Bos as CEO in a management shake-up.
Meanwhile, the meme-stock fever took another turn when GameStop and AMC recovered in pre-market trade after losing almost $7 billion in two days.
Friday’s caution included a revision of US rate drop estimates to only one in 2024 after officials stated that inflation may take longer to achieve the 2% objective.
