London, Wednesday, 17 August 2022
As investors digested yet another round of earnings results and re-evaluated the outlook for monetary policy ahead of the FOMC minutes release later in the day, the value of stock futures contracts linked to the three major indices fell by almost 1% on Wednesday.
The US economy is showing mixed results, making it challenging for markets to predict the Federal Reserve's next move.
Retail sales stagnated in July, according to the most recent economic statement from the Commerce Department, showing that sky-high inflation still restrains consumer spending.
Despite some signs that inflation is slowing down, the Federal Reserve has been assuring the markets that a dovish turn is unlikely.
However, it has always refrained from stating with certainty how much the next rate increase in September will be.
Target's stock fell by about 2% on the corporate side after it announced weaker-than-expected profit results.
(Report by: The Decision Maker – Finance editors)