Markets fall as government borrowing costs rise
U.S. equity futures are rising as the Fed downplays inflation pressures, the Senate set to pass a $1.9 trillion stimulus bill and vaccination rates rising to 2 million a day.
Indices Around The Globe S&P 500 Futures moved below 3,780 for the first time since late January, down 1.25% for the trading session. UK's FTSE 100 down 0.37% to near 6,650 Japan's Nikkei 225 down 2.13% to near 28,930 Bonds 10-year treasury yield at 1.55% Commodities Crude oil up 4.72% to near $64.17/barrel, highest in over a year. Gold down 0.91% to near $1,699/oz Silver down 2.92% to near $25.40/oz Crypto Bitcoin down 4.95% over the last 24 hours to near $48,067 Top News Federal Reserve Chairman Jerome Powell spoke on the state of the U.S. economy at the Wall Street Journal's Jobs Summit U.S. Initial Jobless Claims data for the last week of February showed a week-over-week increase in new unemployment. U.S. Senate plans to vote on President Joe Biden's COVID-19 plan at 1 p.m. on Thursday. Costco (NASDAQ: COST) reported worse-than-expected Q2 EPS results. The stock moved lower in afterhours trade. Slack (NYSE: WORK) reported better-than-expected Q4 earnings results. The stock moved slightly higher in afterhours trade. Connecticut's Governor, Ned Lamont, made an announcement to ease some COVID-19 restrictions in the state. Beginning Friday, March 19, capacity limits will be eliminated for restaurants, retail stores, libraries, and personal services businesses. Face masks, social distancing, and other cleaning protocols will remain in force. Preview for Friday, March 5 Nonfarm Payrolls - 8:30 a.m. EST Unemployment Rate - 8:30 a.m. EST Federal Budget - 2 p.m. EST Baker Hughes Total Rig Count - 1 p.m. EST See more from BenzingaClick here for options trades from BenzingaWhat's Moving The Market Wednesday? After The Close UpdateWhat's Moving The Market Wednesday?© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.