- Markets in Europe and Asia are broadly up this morning with the exception of China, where stocks fell on news of an unexpected deterioration in manufacturing. S&P 500 futures are up nearly a full percentage point, premarket, suggesting that Wall Street very much liked Fed chair Jerome Powell’s rate-setting speech yesterday. The fly in the ointment? “Downside risks” to the labor market.
U.S. Federal Reserve Chairman delivered an entirely predictable press conference yesterday as he kept interest rates on hold at the 4.25% level and said he would await for more data before considering a possible move downward.
