- As a result of the Fed's aggressive stance and bad economic statistics from China, stocks declined on Thursday.
- As Chairman Powell stated that almost all Fed officials believed it would be prudent to hike interest rates "somewhat further" this year following Wednesday's pause, futures for US benchmarks fell. The tech-heavy NASDAQ 100 was expected to reduce part of its 2023 gains of 37%.
- As investors braced themselves for the ECB's upcoming policy decision in the fight against inflation, most industrial sectors fell.
- European gas supply issues are once again on traders' minds. The Netherlands is about to announce that it would close the biggest gas station in the region later this year, which caused European natural gas prices to soar. On Thursday, benchmark futures reached their highest point since early April, rising as much as 24%.
- The main focus for the ECB will be on what else policymakers want to do to combat inflation, which is still three above the 2% objective.
- BofA sees two more 25 BPS interest rate hikes from the Fed in July and September, pushing terminal rate up to 5.5%-5.75%.
- Japan's PM Kishida tells party executives he doesn't plan to dissolve parliament during current diet session - Kyodo.
- Dutch government plans to shut Europe biggest gas field Groningen gas field in October.
