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S&P Futures Drop As Global Market Rally Pauses; Dollar Rises On Rate Hike Concerns
zerohedge.com / by Tyler Durden / Mar 2, 2017
The relentless risk rally which took the Dow above 21,000 and the S&P over 2,400, has taken a breather overnight, with S&P futures modestly lower tracking European stocks, while Asian stocks advanced on US momentum; late Wednesday comments by a unexpectedly hawkish Lael Braniard has pushed the dollar higher, pressuring oil lower.
Fed Governor Lael Brainard said late Wednesday it will probably be “appropriate soon to remove additional accommodation,” boosting expectations for higher borrowing costs. Traders are pricing in an 86% chance of a rate increase at the March 15 decision, more than double the odds last Friday, Fed fund futures showed.
The post S&P Futures Drop As Global Market Rally Pauses; Dollar Rises On Rate Hike Concerns appeared first on Silver For The People.
Source: http://silveristhenew.com/2017/03/02/sp-futures-drop-as-global-market-rally-pauses-dollar-rises-on-rate-hike-concerns/
