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On May 13, Goldman Sachs adjusted its expected time for the next Fed rate cut to December (previously expected to be July). Analysts at the bank said: "In view of the development of the situation and the significant easing of the financial environment last month, we raised our forecast for the annual economic growth rate of the United States in the fourth quarter of 2025 by 0.5 percentage points to 1%, and reduced the probability of a recession in the next 12 months to 35%. At the same time, we have lowered our expectations for the core personal consumption expenditure (PCE) inflation path, and expect it to peak at 3.6% (previously expected to be 3.8%)."Goldman Sachs: The Feds interest rate cut will be postponed to December, compared with previous expectations of taking action in July.On May 13, the EU welcomed the substantial progress and important consensus reached in the high-level economic and trade talks between China and the United States. The EU hopes to reduce trade barriers, welcome measures that help the global supply chain to function well, and welcome measures that support the stability and predictability of global trade and investment.The Dow Jones Industrial Average closed at 42,410.10 on Monday, May 12, up 1,160.72 points, or 2.81%. The S&P 500 closed at 5,844.19 on Monday, May 12, up 184.28 points, or 3.26%. The Nasdaq Composite closed at 18,708.34 on Monday, May 12, up 779.43 points, or 4.35%.According to the New York Times: The United States is considering selling a large number of chips to the UAE artificial intelligence company G42.

S&P 500, NASDAQ Futures Higher in Pre-Market after Meta Stuns Wall Street

Alice Wang

Feb 02, 2023 16:08

The main U.S. stock index futures contracts are trading in a range during Thursday's pre-market session, with the Dow trading down for the day while the NASDAQ Composite was up about 1%.


Investors are attempting to build on the rise from yesterday, which was sparked by a mix of a widely anticipated 25-basis-point rate increase and less hawkish comments from Federal Reserve Chairman Jerome Powell. A sharp increase in Meta shares after a positive earnings announcement is contributing to the euphoric mood.


The blue chip Dow futures are now trading at 34085.00, down 63.00 or -0.18%, at 04:33 GMT. The tech-weighted NASDAQ Composite is trading at 12526.75, up 112.50 or +0.91%, while the benchmark S&P 500 Index futures contract is at 4143.50, up 11.25 or +0.27%.

Less-Hawkish, Supported by Wednesday's Positive Session comments made by Fed Chair Powell

The strong performance in all three main indices yesterday is what is providing the support early on Thursday. The NASDAQ Composite ended the regular session up 2%, while the S&P 500 recovered previous losses to conclude with a gain of 1.05%. After losing more than 500 points earlier in the day, the Dow was only able to gain a meager 0.02%.


Investor confidence that inflation is slowing down enough for the central bank to take notice fueled the sharp bounce, despite the fact that Federal Reserve Chairman Jerome Powell made no mention of a potential stop in rate rises at his post-meeting news conference.

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