It’s the day after the Federal Reserve party, and investors are trying to wrap their heads around policymakers’ stop-and-go plan for interest rate hikes.
Stock futures are slipping early Thursday, after managing to close higher in the hurly-burly aftermath of Fed Chair Jerome Powell’s comments, which some see as pretty hawkish.
And there’s more central bank news for markets, after China’s PBOC cut rates for the first time in August to help out its faltering economy. The ECB is on deck to make its own interest-rate call later Thursday, and most are bracing a hike.
Potential catalysts for market action in the offing are readings on retail sales, manufacturing and jobless claims, with the chance of recession and triggers for Fed rises in focus.
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