Published on 8 May 2024 on Benzinga
...Nasdaq Set For Flat Open Today: What's Going On With Stock Futures? - Invesco QQQ Trust, Series 1...
U.S. stocks are on track for a mixed start on Wednesday as the market digests mixed earnings reports and looks ahead to more speeches by Federal Reserve officials. Given the paucity of any market-moving economic data, the spotlight will likely be on central bank officials’s statements about rates and inflation.
The still-contained bond yields suggest traders are still harboring hopes of rate cuts this year. The importance of each incoming data, therefore, can’t be emphasized enough. “Wall Street will continue to root for bad economic news since it wants to guilt the Fed to begin cutting key interest rates sooner rather than later,” said fund manager Louis Navellier.