{"id":113062,"title":"Wall Street poised for a decline as investors adopt a wait-and-see approach","publisher":"Share Talk","author":"sharetalk","published":"2024-03-05T11:44:13+00:00","modified":"2024-03-05T16:31:54+00:00","canonical_url":"https://www.share-talk.com/wall-street-poised-for-a-decline-as-investors-adopt-a-wait-and-see-approach/","markdown_url":"https://www.share-talk.com/wall-street-poised-for-a-decline-as-investors-adopt-a-wait-and-see-approach.md","json_url":"https://www.share-talk.com/wall-street-poised-for-a-decline-as-investors-adopt-a-wait-and-see-approach.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Asia","Baker Hughes","Barclays","BP","count","crude","Dow Jones","Dow Jones Industrial Average","economy","Fawad Razaqzadal","Federal Reserve","FTSE100","gas","Hamas","HSBC Holdings","Intermediate Crude","Israel","Jamal Khashoggi","Jerome Powell","Joe Biden","Legal & General","Lloyds Banking Group","London","Mohammed bin Salman","NASDAQ","NatWest Group","Netflix","oil","OPEC","OPEC meeting","President","Prince Abdulaziz bin Salman","production","Prudential","RIG","Riyadh","Russia","S&P 500","Saudi Arabia","Share Talk","Shell","Silicon Valley Bank","southern Gaza","Speculators","STOCKS","Tesla","UAE","US","USA","Wall Street","wellpad","West Texas"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Wall-Street-21st-nov-23.jpg?fit=1200%2C800&ssl=1","format":"news","language":"en-GB","content":"US stock indices showed a decline in premarket activity as investors await important events this week, including Federal Reserve Chairman Jerome Powell’s congressional testimony.\n\nThe S&P 500 reached a new intraday high on Monday but closed with a slight decrease. Investors are looking towards Powell’s Wednesday and Thursday appearances for insights into the Fed’s future monetary policy.\n\nIpek Ozkardeskaya, Senior Market Analyst at Swissquote Bank, commented that Powell is likely to advocate for patience before implementing the first rate cut, emphasizing that while inflation is moving in the right direction, it’s too early to lower defenses.\n\nhttps://twitter.com/Share_Talk/status/1764981305354162455\n\nMarket predictions indicate a 65.5% likelihood of a rate cut by June, as per CME Group’s FedWatch tool.\n\nRaphael Bostic, President of the Atlanta Federal Reserve, stated on Monday that there is no immediate pressure to reduce interest rates, citing a thriving economy and job market.\n\nBefore market opening, the Dow Jones Industrial Average fell by 0.1%, the S&P 500 dropped 0.2%, and the Nasdaq 100 declined by 0.6%."}