U.S. equity futures traded lower ahead of the final trading day of the week, on concerns that interest rates will increase faster than expected.
said the Fed must mover faster than it has previously to tackle high inflation. He also warned sharp interest rate increases are likely in coming months.declined Friday morning following a week filled with concerns about interest rate hikes, global growth and COVID-19 lockdowns in China putting a dent in demand.Brent futures slid $1.77, or 1.6%, to $106.56 a barrel.
Friday's earnings announcements include telecom giant Verizon Communications, hospital operator HCA Healthcare, consumer finance firm American Express, oilfield services and offshore drilling giant Schlumberger, household products maker Kimberly-Clark and more.The economic calendar is brief to end the week. The research firm IHS Markit is out with its flash manufacturing and services PMIs for April. Watch for manufacturing activity to edge down six-tenths of a point to 58.2.
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