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US stock will open in red. The markets on edge
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Loading...Futures are following the negative sentiment seen in markets overseas, as investors around the world become jittery over rising rates.
In the previous session, the yield on the 10-year Treasury note hit its highest level since July 2011, while the yield on the 30-year Treasury bond reached the highest it's been since October 2014.
The yields surged on Wednesday following new data that showed that private payrolls rose by 230,000 in September, according to ADP and Moody's Analytics, which far surpassed the 168,000 jobs in August. Elsewhere on Wednesday, the ISM non-manufacturing index hit its highest level on record.
The sharp rise in rates and recent comments from the Federal Reserve put markets on edge Thursday, with domestic and international equity markets trading lower. On Wednesday, Fed Chair Jerome Powell said that the U.S. central bank had a long way to go before interest rates hit neutral, suggesting to markets that more hikes could be on the horizon.
In corporate news, Constellation Brands and Costco are scheduled to publish earnings.
Elsewhere, investors around the globe are keeping abreast of any fresh trade news, as the tit-for-tat trade war between Washington and Beijing shows no signs of alleviating. On Sunday, Canada joined a new trade deal with the U.S. and Mexico; the United States-Mexico-Canada Agreement (USMCA) is expected to be signed by the end of November.
Source: CNBC
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