Warsh's Wyoming Speech Sets Stage for Rate Expectations
US stock futures slipped on Friday as investors held their breath ahead of Federal Reserve Chair Kevin Warsh's speech at the central bank's Wyoming symposium. The event is scheduled to take place at 10 am ET, and markets are bracing for any potential changes in interest rate expectations.
The S&P 500 futures were down 0.1%, while Nasdaq futures slipped by 0.3%. This cautious approach from investors suggests that Warsh's comments may have a significant impact on market sentiment.
Outside of stocks, the focus was on gold and bitcoin, which are often sensitive to changes in interest rate expectations. The 10-year US Treasury yield sat at 4.69%, while gold traded around $4,605 an ounce and bitcoin hovered around $79,346.
The oil market also took a hit, with WTI crude down 0.4% to $83.24 ahead of the Baker Hughes' 1 pm oil-and-gas rig count.