"The banking issues are just confirming evidence to us that things are likely to get worse before they get better," Mr. With an already cloudy economic outlook now further darkened by bank distress, buying into the stock market's optimism could prove shortsighted, said Rich Weiss, chief investment officer of multi-asset strategies at American Century Investments. "The Fed is saying, 'We know our actions are causing economic slippage, but we need to take them anyway because inflation is still hot,'" said Jason Pride, chief investment officer of Glenmede's private-wealth business. banks were well-capitalized and "sound," Treasury Secretary Yellen told a Senate committee that "blanket" deposit insurance hadn't been considered or discussed by her department, helping to drive stocks lower, market strategists said. While Powell assured reporters and the public that U.S. The Federal Reserve on Wednesday approved another quarter-percentage-point interest-rate increase but signaled that banking-system turmoil might end its rate-rise campaign sooner than seemed likely two weeks ago. Stock futures point lower in Europe, with investors taking a cautious approach to stocks, following comments by Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen. Asian stock benchmarks were mixed the dollar weakened Treasury yields broadly fell while gold rose and oil futures declined. Bank of England rate decision, Consumer confidence survey trading updates from Wickes Group, Compass Group, HeidelbergCement, Fresenius SE, Siemens Gamesa Renewable Energy, ABB, Givaudan, Steinhoff International, SKF AB, Novo Nordisk, FinnairĮuropean shares may fall on Thursday ahead of the Bank of England interest-rate decision. EU flash consumer confidence indicator, EU summit U.K.
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