Len Walter Newsradio, Len Walter, Editor discussed on WBBM Morning News
Once again, financial editor, Len Walter. Thank you. Ladies and gentlemen. Good morning to you. The stock market this morning edging a little bit higher earlier. But now we're going negative with the Dow future down thirty two NASDAQ down about fourteen the s&p down three and a half. We had a sharp pullback yesterday after the Federal Reserve stock to its plan to keep withdrawing monetary support. From the economy abusive, strong, dampening hopes for more dovish outlook, the fed raised interest rates and projected to hikes next year instead of three, but what spooked DeMarcus was fed chairman Jerome Powell. He said the central Bank would keep its balance sheet reduction on autopilot the specter of raising borrowing costs only editor concerns of slowing corporate profit growth next year amid slackening economic growth with growing fears of recession in the backdrop of the US China trade war and a host of other geo-political concerns. Well, futures did tick higher earlier this morning. It remains to be seen if any kind of a gain at all will hold. What has been a turbulent? Stocks. The market is more often than not fail to build on an uptick in early trading. And again, we're seeing some sliding already even before the market opens in thirty three minutes the rate hike along with worries about an oversupply of oil prices down again oil major Exxon Mobil, falling about two tenths of a percent. Crude oil futures down two point nine percent this morning last Ray down a dollar forty four to forty six. Seventy three Altria group's living three tenths of a percent. After tobacco giant, the the tobacco giant said. It would pay nearly thirteen billion for a big stake in Joel labs. Len Walter NewsRadio. Seventy five point out of him, holiday, tips and wine stories from Kristen and Paul at total wine and more the sweetness of a maple glazed ham paired with a bourbon barrel aged cabernet..