Futures inch lower, U.S. services data looms - what's moving markets
The main indices on Wall Street posted losses on Tuesday, while the dollar touched a six-month high and government bond yields inched up, as traders attempted to suss out the future path of interest rates.
The comments added fuel to speculation that U.S. interest rates may need to stay"higher for longer" in response to ongoing resilience in the broader economy.Oil prices slipped on Wednesday, but still hovered around nine-month highs, weighed down by a stronger dollar and the waning impact of new supply cuts from two major crude producers.
Tuesday's announcements, which surprised traders looking for extensions only until the end of October, sparked a jump in international benchmarkto above $90 a barrel for the first time this year. The higher prices threatened to ignite renewed global inflation concerns that could influence central bank monetary policy.
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