*U.S. STOCK FUTURES RISE AS YIELDS RETREAT FROM HIGHS - $DIA $SPY $QQQ 🇺🇸🇺🇸
- U.S. stocks rose on Friday as Treasury yields took a breather from a week-long rally that was sparked by worries that the Federal Reserve would keep interest rates higher for longer to tame stubborn inflation.
"What is driving the optimism despite the new data we received in contrast to January is investors are still open for the next Fed meeting to come up with a 25 basis point hike," said Guido Petrelli, chief executive officer of Merlin Investor. Offering respite to stock markets on Thursday, Atlanta Fed President Raphael Bostic said the impact of higher rates on the economy might only begin to"bite" in earnest this spring, an argument for the Fed to stick with"steady" quarter-point rate increases.
The odds of a bigger 50 basis point rate hike in March stood at just 20% but investors are awaiting monthly payrolls and consumer prices data to see if the Fed will go big later this month.
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