The S&P 500 Index’s closed February with a slide of 2.4 percent on Tuesday and Wednesday. This continues to set the tone for global markets. Overnight, the MSCI Asia Pacific Index dropped 0.7 percent, while Japan’s Topix index closed 1.6 percent lower as the strengthening dollar and concerns over the pace of U.S. rate increases hit equities.
- Continuing claims rose by 57k to 1.93m in week ended Feb. 17 (data reported with one-week lag)
- Four-week average of initial claims, a less-volatile measure than the weekly figure, fell to 220,500, also the lowest since 1969, from the prior week’s 225,500
Federal Reserve Chairman Jerome Powell will deliver the semiannual monetary policy testimony before the Senate Banking Committee in Washington.