Analysis-Fed's hiking pause may not signal all-clear for US stocks
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What will Fed do next? JPMorgan warns first rate cut may come as early as September
May 4, 2023 4:42 AM EDTS&P 500 futures are trading modestly higher in pre-market Thursday trading following a Fed-linked selloff on Wednesday.
The benchmark U.S. stock market index fell 0.7% yesterday while Dow Jones Industrial Average and Nasdaq Composite lost 0.8% and 0.46%, respectively, after the Federal Reserve raised rates by another 25 basis points.
Investors are still digesting the FOMC statement as the Fed took out prior language that pointed toward more hikes and said it will remain data-dependent before deciding on its next steps. The latest increase pushed the benchmark federal funds rate to a target range of 5-5.25%, the highest level since... More
