HomeFinancial MarketsFutures Rise As Banking Sector Concerns Subside

Futures Rise As Banking Sector Concerns Subside

U.S. stock futures rose on Wednesday morning as fears concerning the ongoing banking crisis continue to subside. Investor confidence in the banking sector has been partially restored in recent days following the U.S. regulator-backed acquisition of the failed Silicon Valley Bank.

S&P 500 e-minis were up 0.82%, or 32.75 points, while Nasdaq 100 e-minis were up 0.81%, or 103.5 points. Dow Jones e-minis were advanced by 0.68% or 221 points. Among the high-performing stocks were Microsoft Corp, Alphabet and Meta Platforms, each of which rose between 0.8% and 1.5% during premarket trading.

Now, investor focus has shifted to this week’s upcoming economic data, which is expected the indicate the effectiveness of the Federal Reserve’s monetary policy, particularly its latest 25 basis point interest rate hike.

“There are growing expectations that the Federal Reserve may hike interest rates again at the next meeting, but it’s still believed to be close to the summit of peak rates, particularly as banking lending is expected to tighten, causing a drag on the economy,” Susannah Streeter, head of money and markets at Hargreaves Lansdown commented. She added that the decline in banking sector concerns has restored investors’ willingness to take risks.

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