The central bank is not expected to take its Fed funds rate target back down to around 5% until May 2024, according to 30-day Fed Funds futures.ĪMC Entertainment shares fell 27% in premarket trading after it won approval to move ahead with a planned conversion of AMC Preferred Equity, or APE, units into common shares. Markets are pricing in an 89% probability that the Fed will leave interest rates unchanged at a range of 5.25% to 5.50% after its next meeting on September 20, according to the CME FedWatch tool. With no notable economic data due today, investors will be looking ahead to macro updates later in the week, including retail sales, the minutes of the previous FOMC meeting, and the leading economic indicators report.
Read Chinese Developers' Shares Slump on Country Garden News, Weak Credit Data Shares of Chinese property developers fell sharply Monday, weighed by negative news, including property giant Country Garden's suspension of bond trading, deteriorating credit data and profit alerts. Stock futures were higher on Monday, despite China's latest property crisis threatening to spill over into the broader economy, worrying investors and causing a broad market selloff in Asia.
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Steel Rejects Offer From Cleveland-Cliffs The Economic Losers in the New World Order China's Deepening Housing Problems Spook Investors Earnings from Suncor Energy, Getty Images, Rumble
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