{"id":1955043,"date":"2023-06-23T08:28:02","date_gmt":"2023-06-23T12:28:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-fall-as-powells-hawkish-stance-sours-market-mood\/"},"modified":"2023-06-23T08:29:07","modified_gmt":"2023-06-23T12:29:07","slug":"futures-fall-as-powells-hawkish-stance-sours-market-mood","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-fall-as-powells-hawkish-stance-sours-market-mood\/","title":{"rendered":"Market sentiment turns negative as Powell&#8217;s hawkish stance causes futures to decline."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffutures-fall-as-powells-hawkish-stance-sours-market-mood%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1955043&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p>(Reuters) \u2013 U.S. <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-fall-as-focus-turns-to-fed\/\" title=\"Futures fall as focus turns to Fed\">stock index futures fell<\/a> on Friday as investor sentiment remained damp due to the hawkish interest-rate outlook of Federal Reserve Chair Jerome Powell in his two-day congressional testimony.  <\/p>\n<p>Appearing before the Senate Banking Committee, Powell reiterated his view that more rate hikes are likely in the months ahead.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>His comment that the Fed will proceed with caution led the S&#038;P 500 and the Nasdaq pull some gains in the previous session, but remained on course for a weekly decline.<\/p>\n<p>\u201cThe ever-present tug of war between bears and bulls seems to be at an impasse, with markets relatively steady over the week as investors weigh up the Fed\u2019s next move after comments from Powell suggest hikes are far from over,\u201d said Matt Britzman, equity analyst at Hargreaves Lansdown. <\/p>\n<p>\u201cInvestors should strap in for rates to go higher than they want, for longer than they\u2019d like.\u201d<\/p>\n<p>Bond markets are still pricing in one more rate hike of 25 basis points in July, according to CME Group\u2019s FedWatch tool, as opposed to two more as suggested by Powell.<\/p>\n<p>Richmond Fed President Tom Barkin said he remains unconvinced that inflation is on a steady path downward, but would not prejudge what the Fed should do at its July 25-26 meeting.<\/p>\n<p>Yields on the 2-year, which best reflects interest rate expectations, and 10-year Treasury notes edged lower on Friday.  <\/p>\n<p>\u201cThe latest data aggravated fears about a potential recession, which has further dampened risk appetite,\u201d a note from Deutsche Bank said.<\/p>\n<p>S&#038;P Global\u2019s Purchasing Managers\u2019 Index for both U.S. manufacturing and services activity will be on investors\u2019 radar later in the day and will provide more clues on the strength of the economy.<\/p>\n<p>Investors will also monitor comments from St. Louis Fed President James Bullard, Atlanta Fed President Raphael Bostic and Cleveland Fed\u2019s Loretta Mester.<\/p>\n<p>At 5:36 a.m. ET, Dow e-minis were down 110 points, or 0.32%, S&#038;P 500 e-minis were down 21.75 points, or 0.49%, and Nasdaq 100 e-minis were down 101.75 points, or 0.67%.<\/p>\n<p>3M Co climbed 3.5% after the chemical company reached a $10.3 billion settlement with a host of U.S. public water systems to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/futures-fall-as-powells-hawkish-stance-sours-market-mood\/\" title=\"Market sentiment turns negative as Powell's hawkish stance causes futures to decline.\">resolve water pollution claims tied<\/a> to \u201cforever chemicals\u201d.<\/p>\n<\/p>\n<p> (Reporting by Shubham Batra, Shreyashi Sanyal and Shashwat Chauhan in Bengaluru; Editing by Arun Koyyur)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/futures-fall-as-powells\/attachment\/traders-work-on-the-floor-of-the-nyse-in-new-2\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>After Secretary of State Antony Blinken\u2019s trip to China to cool down tensions, Biden calls China\u2019s President Xi Jinping a dictator.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>Presidential hopeful Ron DeSantis takes aim at the Golden City after taking a trip to California.<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>with James O\u2019Keefe<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>with Rep. Troy Nehls<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By Arriana McLymore and Katherine Masters NEW YORK (Reuters) \u2013 Amazon.com Inc isn\u2019t the only U.S. retailer accused of using deceptive tactics\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>By A. Ananthalakshmi KUALA LUMPUR (Reuters) -Malaysia said on Friday it will take legal action against Facebook parent company Meta Platforms for\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>(Reuters) -User reports of outages at Alphabet Inc\u2019s YouTube and YouTube TV fell sharply early on Friday from a peak of over\u2026<\/strong><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><strong>SYDNEY (Reuters) \u2013 Australia on Friday named a senior air force commander as its first cybersecurity boss to help lead the government\u2019s\u2026<\/strong><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock futures dropped on Friday as investor sentiment was affected by Federal Reserve Chair Jerome Powell&#8217;s hawkish interest-rate outlook during his congressional testimony. Powell, speaking before the Senate Banking Committee, reiterated his belief that more rate hikes are probable in the coming months.<\/p>\n","protected":false},"author":66,"featured_media":1955044,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-1955043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1955043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1955043"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1955043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1955044"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1955043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1955043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1955043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}