Futures inch higher as investors await Fed rate verdict
Futures tracking Wall Street's main indexes edged higher on Monday ahead of a widely expected pause in U.S. interest rate hikes by the Federal Reserve later this week. A slump in chipmakers on concerns over weak demand and a slide in megacap growth stocks due to rising Treasury yields had driven the S&P 500, the Nasdaq and the Dow to their worst single-day fall on Friday since Aug. 24, dropping between 0.8% and 1.5%. Traders largely expect the Fed to keep rates unchanged at 5.25% to 5.5% during its meeting on Wednesday, while their odds for another pause in November stand at 69%, a...
Source: yahoo.com
