|
The
U.S. central bank is largely expected to raise rates by 75 basis
points to a 3-3.25% range at the end of its two-day policy
meeting at 2 p.m. EDT (1800 GMT), which will be followed by a
news conference from Fed Chair Jerome Powell.
The focus will be on economic projections, which is expected to
offer insight into how aggressively policymakers feel interest
rates must rise to tame stubbornly high prices.
The S&P 500 has hit two-month lows on fears that the rapid pace
of rate hikes could tip the U.S. economy into recession and on
growing evidence of the impact of decades high inflation on
earnings outlooks from companies ranging from FedEx Corp to Ford
Motor Co.
At 5:22 a.m. ET, Dow e-minis were up 10 points, or 0.03%, S&P
500 e-minis were up 0.5 points, or 0.01%, and Nasdaq 100 e-minis
were down 12.75 points, or 0.11%.
Meanwhile, shares of U.S. defense companies Raytheon
Technologies Corp, Lockheed Martin Corp and Northrop Grumman
Corp rose between 1.8% and 3.2% in premarket trading as
President Vladimir Putin ordered Russia's first mobilization
since World War Two.
(Reporting by Medha Singh in Bengaluru; Editing by Anil D'Silva)
[© 2022 Thomson Reuters. All rights
reserved.]
This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
