What’s Changed Since February? (Other than the S&P 500, Not Much)
What’s in Today’s Report:
- What’s Changed Since February? (Other than the S&P 500, Not Much)
Futures are slightly lower on potentially negative U.S./China trade headlines and after more hawkish rhetoric from ECB members.
A WSJ article released late Tuesday stated the U.S. was considering more restrictions on chip exports to China, and that’s weighing on sentiment and the chip stocks.
Multiple ECB members made hawkish comments overnight, increasing the expectation for two more rate hikes.
Today there are no notable economic reports, but Fed Chair Powell does speak at 9:30 a.m. ET. However, if he just reiterates his previous message (progress has been made on inflation but the work isn’t done, meaning another rate hike) then his comments shouldn’t materially move markets.