Stock futures declined on Wednesday as traders returned from the Independence Day break and assessed headwinds for the global economy. They also prepared for the release of Federal Reserve minutes.
Futures on the S&P 500 (^GSPC) were approximately 0.4% lower, while futures on the Dow Jones Industrial Average (^DJI) were down around 0.4%. Nasdaq 100 futures fell about 0.6%.
Concerns about the health of the world’s second-largest economy grew due to a surprisingly sharp decline in Chinese services activity. This occurred amidst escalating tensions in the US-China trade war.
Rivian (RIVN) shares rose nearly 4% in pre-market trading, following a 17% rally on Monday. This increase came after Amazon announced its plans to introduce the first vans from the electric vehicle (EV) maker in Germany.
The minutes from the Fed’s June meeting could provide insights into policymakers’ decision to delay a rate hike while still indicating future increases. These insights will prepare investors for the crucial June jobs report on Friday.
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2023-07-05 05:37:19
Link from finance.yahoo.com
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