BOJ Joins Rate Hike Parade, Markets Mixed in Early Trading
Markets are mixed in early trading, with stocks and crude oil experiencing fluctuations. The Japanese yen has lost ground due to the Bank of Japan's interest rate hike announcement.
The BOJ increased its policy rate by 25 basis points to 1.25%, a move that is still relatively low compared to other parts of the world. However, two policymakers dissented in the committee's decision, causing the yen to weaken further.
Netflix Inc. (NFLX) continues to struggle despite AI and tech stocks bouncing back after the Federal Reserve's rate hike announcement. The company faces a downgrade to 'underweight' at Wells Fargo due to weakening engagement and a lackluster slate of upcoming releases.