Contracts for the S&P 500 showed a higher opening for Thursday’s gains and further easing of volatility since the beginning of this week. However, since Thursday’s close, the S&P 500 has been well on its way to a weekly loss that would end a three-week winning streak if levels remain maintained until Friday’s close. New comments from Fed officials remained in the spotlight as another group of speakers offered a mixed set of comments on the future course of central bank policy. St. Louis Fed Chairman James Bullard said Thursday that the Fed wanted the Fed to raise interest rates between 3% and 3.25% in the second half of this year, suggesting more aggressive, upfront interest rate hikes. Bullard was the only opponent at the Fed meeting in March, calling for a 50 basis point increase in interest rates compared to the 25 basis point increase that eventually occurred. While Bullard is now a longer-term hawk seeking more action from the Fed to curb inflation, earlier observations this week showed that other central bank members were also encouraging the idea of tightening policy. Fed Governor Lael Brainard said the Federal Open Market Committee (FOMC) was “ready to take stronger action” if inflation remained high and justified such moves. And in the minutes of the Fed meeting published on Wednesday afternoon, the central bank revealed that “many participants … would prefer a 50 basis point increase” in interest rates, and also suggested that the Fed was preparing to announce the start of the balance soon. of. leaf drainage process. However, other Fed officials have offered a more measured approach to raising interest rates. In a statement Thursday, Atlanta Fed Chairman Rafael Bostic said it would be “appropriate” to move the benchmark interest rate “closer to neutral”, suggesting a somewhat less hasty series of interest rate hikes. Meanwhile, Chicago Fed Chairman Charles Evans suggested that the Fed be able to “reach a neutral position, look around and discover that we are not necessarily so far from where we need to go.” The story goes on Overall, the flurry of comments has helped stocks at least temporarily halt their last period of volatility since the beginning of this week and have kept government yields more stable after a sharp rise. The 10-year benchmark yield was maintained at around 2.6% for its highest level since 2019. “The market really had to assimilate a lot of information – a lot of right-wing information from the Fed over the last two days. We were in a state of sale. And I think [Thursday] “We finally have a chance to take a breather and realize that stock markets have some very positive things happening,” Kevin Nicholson, RiverFront Investment Group’s global fixed income investor, told Yahoo Finance Live on Thursday. We still expect the earnings season to be better than expected … We also believe that you have support with a strong job market. “The economy is in a great position in this respect.” “We expect stock markets to recover,” he added. “And we’re really looking to get back to the 4,800 highs in a few months, especially as they get more clarity from the Fed. As we all know, stock markets don’t like uncertainty.” –
7:40 a.m. ET Friday: Futures shares rise, boosting earnings on Thursday
This is where the markets traded on Friday morning:
S&P 500 Futures (ES = F): +14 points (+ 0.31%) at 4,510.25 Dow futures (YM = F): +130 points (+ 0.38%) at 34,620.00 Nasdaq Futures (NQ = F): +44.25 points (+ 0.3%) at 14,580.25 Crude (CL = F): + 0.03 $ (+ 0.03%) at $ 96.06 per barrel Gold (GC = F): -3.30 $ (-0.17%) to $ 1.934.50 per ounce 10-year Treasury (^ TNX): +1.6 bps for 2.67% yield
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6:14 p.m. ET: Thursday: Futures contracts move sideways
This is where the futures for the main indicators were traded here on Thursday afternoon, as the night session began:
S&P 500 Futures (ES = F): +2.25 points (+ 0.05%) at 4,498.50 Dow futures (YM = F): +12 points (+ 0.03%) at 34,502.00 Nasdaq Futures (NQ = F): +13 points (+ 0.09%) at 14,549.00
NEW YORK, NY – APRIL 01: Traders work on the floor of the New York Stock Exchange during the afternoon trading on April 1, 2022 in New York City. US stocks closed higher on the first trading day of the second quarter of 2022, after the Ministry of Labor published a report on jobs that showed an increase far above the pre-pandemic trends. (Photo by Michael M. Santiago / Getty Images) – Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter. Read the latest financial and business news from Yahoo Finance Follow Yahoo Finance on Twitter, Instagram, YouTube, Facebook, Flipboard and LinkedIn
