US stocks were lower on Thursday morning as materials and energy stocks sank due to lower commodity prices and investors weighed the prospect of an increase in interest rates next month.
Fed Chair Janet Yellen told Congress last week that the USA economy was performing well and that a December rate hike is a “live possibility”.
Louis President James Bullard said that the USA central bank should raise interest rates from near zero because emergency policies are not needed with the labor market and inflation near to the central bank’s goals. A few 5% said the Fed would stay on hold…
Richmond Federal Reserve President Jeffrey Lacker said on Thursday that the US central bank still retains a “unique” ability to influence inflation, but that monetary policy’s impact on real economic activity is limited.
Fed Vice Chairman Stanley Fischer will make an appearance at the same event at 2300 GMT, while Chicago Fed president Charles Evans will give a speech on the economy and monetary policy at the National Communities Council Fall Leadership Forum in Chicago at 1515 GMT. The Fed targets 2 percent annual inflation.
Retailers got a boost on Thursday after Kohl’s reported better-than-expected quarterly net sales.
The Dow Jones Industrial Average is expected to open down approximately 12 points, while the S&P 500 and the Nasdaq are set to begin the session unchanged from Wednesday’s close.
PayPal’s shares slid 3.1 percent to $35.22 after the Wall Street Journal reported Apple was in talks with USA banks to develop a rival payment service.