Stocks Set to Open Lower After Hawkish Fed Comments Dim Rate Cut Hopes
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U.S. stock futures point lower on Wednesday following hawkish Fed comments that reduced hopes for imminent rate cuts.
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Fed Governor Christopher Waller said there's no need to cut rates quickly given the economy and job market are in "good shape." This fueled a jump in Treasury yields.
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Walt Disney rejected activist investors' board nominees, saying current leadership has made progress on streaming profitability and other strategic initiatives.
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China's 2023 GDP growth topped Beijing's 5% target at 5.2%, but weak consumer spending and property woes weighed on the economy.
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Disappointing Chinese data sent oil prices lower on concerns about demand from the world's number two economy.