Market Wrap: Stocks Rebound, Lyft Soars, and Market Movers to Watch
TL;DR Summary
US equity futures rebounded after a slump triggered by higher-than-expected US inflation data, signaling a potential delay in Federal Reserve interest rate cuts. Despite the setback, optimism remains for US stocks, with BlackRock Inc. portfolio manager Russ Koesterich predicting further upside and the possibility of four rate cuts. UK traders received better news as inflation came in lower than forecast, triggering a repricing in Bank of England rate bets. Oil prices ticked higher, while gold and Bitcoin traded within narrow ranges. Key events this week include BOE Governor Andrew Bailey's testimony and various Fed speakers.
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