Jobless claims and PCE ahead, Salesforce lifts guidance - what's moving markets
Investors are digesting a series of economic figures in recent days that have pointed to some slowing in the U.S. labor market, fueling expectations that the Fed may soon bring its long-standing cycle of interest rate hikes to a close.
The Fed's policy tightening campaign, which aims to cool red-hot inflation, has pushed the federal funds rate from near-zero to a range of 5.25% to 5.50% -- the highest mark in more than two decades. But analysts say that signs of easing in the job market and broader economy could persuade officials at the central bank that inflationary pressures are waning, and the time to step back from rate hikes has come.Shares in Salesforce rose by more than 5% in premarket U.S.
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