US Markets Dip as Powell Speech Dampens Rate-Cut Hopes
TL;DR Summary
US futures declined as Federal Reserve Chair Jerome Powell indicated no rush to cut interest rates, and concerns grew over President-elect Donald Trump's cabinet choices. The S&P 500 and Nasdaq 100 futures fell, with drugmakers under pressure after a vaccine skeptic was appointed to a health-policy role. Optimism over Trump's corporate growth policies is waning, with expectations of slower interest rate cuts due to persistent inflation. Treasury yields rose, and the dollar eased slightly, while Bitcoin retreated from record highs.
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