U.S. stock futures were lower on Thursday as the sight of 10-year Treasury yields above 4% soured sentiment amid worries about more Fed rate hikes
U.S. stock futures were lower on Thursday as the sight of benchmark borrowing costs above 4% soured sentiment.
How are stock-index futures trading On Wednesday, the Dow Jones Industrial Average DJIA rose 5 points, or 0.02%, to 32662, the S&P 500 SPX declined 19 points, or 0.47%, to 3951, and the Nasdaq Composite COMP dropped 76 points, or 0.66%, to 11379. Over the last 24 hours Atlanta Fed President Raphael Bostic reiterated the need for rate hikes above 5%, and Minneapolis Fed President Neel Kashkari said he was worried that there was little evidence the service sector was slowing sufficiently.
U.S. economic updates set for release on Thursday include the weekly initial jobless claims and fourth quarter productivity and unit-labor costs, all due at 8:30 a.m. Eastern. Kashkari is expected to make further comments at 6 p.m.
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