U.S. stock index futures fell on Thursday after weak economic data fueled recession worries, while investors await comments from more Federal Reserve officials for clues on the central bank's path of monetary tightening.
stressed on the need to raise rates beyond 5% to bring inflation to heel, while money markets see the rate peaking at 4.85% by June, with a 25-basis point rate hike baked in for February.
"For once bad news really was bad news because of the implications it might have for interest rates. Weak retail sales suggested consumers' resilience may have been pushed beyond breaking point," said Russ Mould, investment director at AJ Bell.December's housing starts number, weekly jobless claims and Philadelphia Fed's Manufacturing Survey for January, due at 8:30 a.m. ET, will provide more clues on the strength of the U.S. economy.
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