What to watch today: Stock futures turn lower after Fed chief Powell comments
- Date: 25-Mar-2021
- Source: CNBC
- Sector:Financial Markets
- Country:Gulf
What to watch today: Stock futures turn lower after Fed chief Powell comments
Oil fell Thursday as fuel demand concerns reemerged alongside worries about steps back in the global fight against Covid. Prices surged nearly 6% on the shipping disruptions caused by the grounding of a giant container ship in the Suez Canal. It could take weeks to clear, according to the CEO of a Dutch company helping with the salvage efforts. (CNBC)* Satellite imagery shows mega container ship blocking Egypt's Suez Canal (CNBC)
U.S. stock futures turned lower Thursday after Federal Reserve Chairman Jerome Powell told NPR's "Morning Edition" that Covid economic stimulus and vaccinations allowed the U.S. economy to recover faster than expected and that central bankers, at some point, may be able to pull back emergency support. (CNBC)The Labor Department Thursday morning reported 684,000 new filings for unemployment benefits last week. That was much better than estimates for 735,000, and the first time initial weekly jobless claims was below 700,000 since the Covid pandemic began just over a year ago.(CNBC)
Fidelity Investments is preparing to launch its own bitcoin fund as the investment giant works to cement its clout in the market for digital assets. FD Funds Management, a subsidiary of Fidelity, said it plans to provide financial backing for an ETF