Today, futures contracts which are related to North American stocks have taken a bit of a downturn in projected value as today is another day in which the United States Federal Reserve Bank – known as The Fed – is set to announce its position on interest rate adjustments.
In advance of the opening session in New York today, futures contracts which related to stocks listed on the Dow Jones Industrial Average fell 29 points which equates to a 0.1% drop, S&P 500 futures were down 0.1%, while Nasdaq-100 futures dipped 0.2%.
The Federal Reserve Bank is holding a policy conference that has been ongoing for two days. Today’s final day will be today. Investors and traders are eagerly awaiting the outcome which could lead to an additional increase in the US base rate of interest.
Analysts and speculators have been looking into the possibility that the Federal Reserve will implement a 25-base point increase in base rate of interest. There is also the possibility of tightening monetary policy, especially considering the recent spread of contagion in the United States banking system following the collapse of Silicon Valley Bank.
In the last few days, small regional banks were affected. Now First…