Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
US pre-open: Futures lower as bond yields surge
(Sharecast News) - US futures were pointing to further losses ahead of the bell on Tuesday amid higher bond yields and fears that the Federal Reserve may not move lower interest rates quite as quickly as Wall Street had initially hoped for. As of 1230 GMT, Dow Jones futures were down 0.12%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.13% and 0.09% weaker, respectively.
The Dow closed 274.30 points lower on Monday, erasing gains recorded in the final session of the previous week.
Tuesday's pre-market declines follow those seen in the previous session, fuelled by comments from Federal Reserve chairman Jerome Powell that a rate cut was unlikely to come from the central bank's next meeting in March. While the comments sent the yield on the benchmark 10-year Treasury note north on Monday, it was little changed ahead of the bell on Tuesday at 4.164%, having been at 3.86% just a few days ago.
Trade Nation's David Morrison said: "Investors have been repricing everything since last week's Fed meeting and Friday's non-farm payroll surprise. Finally, they are listening to what the Fed has been saying for months now.
"Markets are adjusting. According to the CME's FedWatch Tool, the May Fed meeting is now the favoured time for the first cut, although June seems more reasonable based on the Fed's comments. In addition, the market is now pricing in rate cuts of between 100-125 basis points this year, down from 150 last week."
In the corporate space, Eli Lilly posted better-than-expected quarterly results, driven by strong Mounjaro revenues, while DuPont narrowly beat estimates with its latest quarterly earnings but fell short of revenue expectations.
Still to come, Amgen, Chipotle and Ford will all report their latest set of quarterly earnings after the close.
On the macro front, Federal Reserve Bank of Cleveland president Loretta Master, Minneapolis president Neil Kashkari, and Boston Fed president Susan Collins will all deliver speeches on Tuesday.
Reporting by Iain Gilbert at Sharecast.com
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
