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July 16, 2024
Egypt Bulletin
Business

Despite a waver in US futures, global stocks end the Fourth of July high

The Fourth of July saw global stocks mostly higher and U.S. futures fluctuating. There will be minimal activity in the markets today since American investors are on vacation. However, the Federal Reserve’s monetary policy strategy and the risks of recession remain top of mind. US stock trading is on hold today, but U.S. stock-index futures moved mostly lower. The Dow Jones Industrial Average futures fell 200 points, or 0.6%, after ending last Friday 321 points higher at 31,097. There was a 0.7% decline in S&P 500 futures, as well as a 0.7% decline in Nasdaq futures.

Despite a waver in US futures, global stocks end the Fourth of July highThe second half of 2022 marks the most dismal start to a year since 1970, with investors proceeding cautiously. Both the S&P 500 and Nasdaq have fallen 20% and 30% since early January due to the stock market rout. In this recent selloff, investors have been concerned that the Fed and other central banks cannot avoid spurring a recession because of tighter monetary policy. Due to the highest inflation in decades, the Fed has already raised interest rates aggressively. It is expected to do so in the future, potentially slowing down the US economy.

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