Wall Street is poised to open lower ahead of a possible U.S. federalgovernment shutdown and as the awareness sets in that interest rates might stay raised for a long time.
Futures for the Dow Jones industrials fell 0.4% priorto the opening bell Tuesday and S&P 500 are off 0.5%.
With the tasks market still hot markets still energetic, the Federal Reserve will mostlikely keep interest rates high well into next year. The Fed is attempting to guarantee high inflation gets back down to its target, and it stated last week it will mostlikely cut interest rates in 2024 by less than earlier anticipated. Its primary interest rate is at its greatest level because 2001.
The growing comprehending that rates will remain greater for longer hasactually pressed yields in the bond market up to their greatest levels in more than a years. That in turn makes financiers less prepared to pay high rates for all kinds of financialinvestments, especially those seen as the most pricey or making their owners wait the longest for huge development.
In the near term, the U.S. federalgovernment might be set for another shutdown inthemiddleof more political squabbles on Capitol Hill. But Wall Street has handled its method throug