Good morning traders and investors of the r/stocks sub! Welcome to the new trading day and a fresh start! Here are your pre-market stock movers & news on this Thursday, March the 9th, 2023-
Stock futures fall as traders assess chances of of higher rate hikes: Live updates
U.S. stock futures dipped Thursday as traders continue to process comments from Federal Reserve Chairman Jerome Powell and await key employment data.
Dow Jones Industrial Average futures fell by 45 points, or 0.1%. S&P 500 futures and Nasdaq-100 futures slipped 0.3% and 0.6%, respectively.
Those moves come a day after Powell reiterated his warning message to lawmakers that the central bank may raise interest rates higher than previously anticipated. However, he emphasized that no decision has been made yet regarding the March meeting.
“The market is finally coming to the realization that elevated interest rates are here to stay and the idea of a Fed pivot anytime soon is wishful thinking,” Main Street Research’s chief investment officer James Demmert said Thursday.
“The global economy is more resilient than many realized, which will make inflation stickier and is extending central bankers’ terminal rate target. Inflation has come down but is nowhere near the Fed’s 2% target, so there is much work to be done given the stubborn strength of the economy and wage inflation,” he added.
Investors will get more indication on the state of the economy Friday, when the U.S. government releases its monthly jobs report. Economists polled by Dow Jones expect the U.S. economy to have added 225,000 jobs in February.
On Wednesday, ADP reported that private payrolls increased by 242,000, more than expected. This reaffirmed the strength of the economy, which raised concern that rates could stay higher for longer.
Investors on Thursday will be looking at the jobless claims report, which is due at 8:30 a.m. ET. Federal Reserve Vice Chair for Supervision Michael Barr is also scheduled to speak on c/ryptocurrencies.
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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YESTERDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
(source: [cnbc.com]())
(T.B.A.) — (T.B.A.).
STOCK SYMBOL: (T.B.A.)
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FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
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