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Dow futures cnbc now11/14/2023 For oil prices to have a bearing on the outlook for monetary policy, central banks would probably need to see prices rise higher and for a sustained period against a backdrop of resilient activity and rising inflation expectations," MacAdam said. "e do not believe that the recent increase in oil prices will cause central banks in advanced economies to respond with interest rate hikes. London-based Capital Economics doesn't believe higher crude oil prices will pave the way for "a sustained rebound in inflation," or that central banks in developed economies will react by pushing up interest rates or even keep them higher for longer solely due to the energy markets. "iven that inflation remains above target, the recent rise in oil prices creates a near-term headache for central banks, which they may well convey by toeing a hawkish line," Simon MacAdam, senior global economist at Capital Economics wrote in a note to clients Tuesday entitled, "Higher oil prices not a game-changer for inflation." Those moves raised concerns about the impact of higher rates and likely put pressure on tech stocks. 2-year Treasury yield jumped to its highest level since July 2006, while the 10-year Treasury yield reached a high not seen since November 2007. Investors had been buying up tech shares and other growth stocks this year on the hope that Fed would already be done tightening policy at this point. Live Dow Jones Futures prices and pre-market data including Dow Futures stock market news, charts, analysis and more Dow Jones Futures coverage. Tech stocks dragged in the session, with information technology and communication services the two worst-performing sectors in the S&P 500. "The US economy is too strong and this rate hiking cycle will last a lot longer than Wall Street wants," said Edward Moya, senior market analyst at Oanda. The three major indexes slid while Powell spoke and continued to tumble in the final half-hour of trading. Powell also commented that a soft landing for the economy was still possible and his primary objective, but not his baseline scenario. The Dow Jones Industrial Average advanced 524.29 points, or. Powell said that the central bank would "proceed carefully" in raising rates further but the Fed chief also noted there is more work to do in the fight against inflation. Stocks finished Thursday higher as strong results from Meta Platforms boosted tech-related names. The markets gyrated as traders listened to Fed Chair Powell give his outlook for rates. The central bank signaled it would end its hiking campaign after that increase and begin cutting rates next year - though keeping rates at a higher level for the year than signaled in June. But the central bank indicated that one more rate hike is expected before the end of the year in its economic projections. The Fed held rates steady, as was widely anticipated. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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