U.S. equity futures were trading lower on Wednesday ahead of the release of the minutes from the Federal Reserve's latest meeting in which interest rates were raised.
Strategic Wealth Partners Investment Strategist Luke Lloyd shares his outlook for the economy, predicting an impending recession.
U.S. equity futures were lower after a tepid trading session on Wall Street amid worries about a global recession.Traders work on the floor of the New York Stock Exchange.to recoup some of Tuesday's losses. The price of U.S. crude oil sank $8.93, eventually settling below $100 a barrel for the first time since early May.
On Wednesday, benchmark crude oil was trading around $101 per barrel. Brent crude, the international standard, was trading at $104 per barrel.Analysts said markets were focusing on a variety of risks, including inflation, oil prices, moves by the U.S. Federal Reserve and other central banks on interest rates, political developments in Britain and worries over COVID-19.
Traders and investors will get some insight Wednesday afternoon into last month's decision by the Federal Reserve to raise its benchmark interest rate by 75-basis points for the first time in nearly three decades.
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