Stock Futures Rise Amidst Market Losses and Fed Rate Fears: Weekly Update

Stock futures in the US climbed slightly as the market is set to end the week with significant losses. This follows a three-day losing streak as investors reacted to the Federal Reserve's indication of keeping interest rates higher for longer. The S&P 500 and Nasdaq Composite are on track for their worst week since March, while the Dow has dipped 1.6%. Bond yields surged after the central bank forecasted another rate hike for 2023. Concerns about a potential government shutdown also weighed on investor sentiment. In other news, Japan's private sector activity expanded at its slowest pace since February, and Japan's August inflation rate remained above the Bank of Japan's 2% target for the 17th consecutive month. Additionally, individual investor bullish sentiment dropped to a four-month low, and Ritholtz Wealth Management's Josh Brown suggested locking in bond duration as yields rise. Finally, shares of WW International, the parent company of Weight Watchers, tumbled after Oprah Winfrey expressed skepticism about weight loss drugs.