CNBC Daily Open: Another Fed hike is on the horizon - but when?
U.S. Federal Reserve officials have signaled that another interest rate hike is likely before the end of the year to combat persistent inflation. Meanwhile, global markets saw a pullback as investors reacted to the uncertainty regarding the timing of these hikes.
Why it matters
Interest rate decisions by the Fed have a direct impact on global borrowing costs, currency valuations, and stock market performance.
Hello, this is Justina Lee writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.
Meeting minutes released Wednesday showed that U.S. Fed officials expect interest rates to increase before year-end, but the meeting summary provided no indication of when specifically it would happen.
The U.S. Treasury selling $39 billion of 10-year notes in an auction knocked yields off their highs, while the S&P also pulled back from its record high on Wednesday.
South Korean tech giant Samsung posted a third-quarter preliminary operating profit that exceeded 100 trillion won for the first time in its history, while Lululemon poached Athleta CEO Maggie Gauger.
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