U.S. Stocks Update
U.S. stock futures have been heading mostly lower in early Thursday trading. Selling action by some speculators may have been triggered by renewed fears of a conflict with North Korea. Choe Son Hui, the nation’s vice minister of foreign affairs threatened a “nuclear-to-nuclear showdown”. President Trump responded this morning with an open letter, stating that the US will be pulling out of a long-planned summit with the nation.
Futures were trading higher yesterday, after the FOMC meeting minutes indicated that they will not be too aggressive in raising rates. Fed Fund futures indicated an increased likelihood that we will see only two more interest rate hikes this year, versus the three that was expected before the minutes were released.