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Strong retail numbers pushing out timeline for rate cuts as Fed remains reliant on data: Analyst

CNA’s Elizabeth Neo spoke to Garett Lim, Head of Partners, Asia, at SIX Financial Information, to get his outlook for US equities in anticipation of future rate cuts by the Fed. He also explains why he believes the ‘Magnificent Seven’ stocks will continue to do well in 202
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US equities broadly pull back as rate cut bets wither, S&P 500 sheds over half a percent

US stocks saw broad-base declines on Wednesday after investors were forced to adjust their bets on rate cuts from the Federal Reserve (Fed) after US Retail Sales rose more than expected, implying the US domestic economy remains too strong for the US central bank to begin cutting their main reference rate as soon as investors are hoping for.
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