US equities sink late to cap a tough week | Forexlive

It was a tough one for US equities this week and it ended on a soft note after a back-and-forth session. Today’s hot PPI number and better UMich sentiment raised some questions about whether Fed hikes are working enough to cool inflation and whether Powell could take a hawkish stand next week. I think he’s instead going to push the idea that the Fed will hold rates high for longer rather than the U-turn that’s priced into Fed funds.

In any case, expect some even bigger moves next week.

On the day: