Wall St set for lower open as Middle East tensions drive risk-off mood
© Reuters. FILE PHOTO: Traders work on the floor of the New York Stock Exchange in New York City, U.S., September 26, 2023. REUTERS/Brendan McDermid/File Photo
U.S. President Joe Biden arrived in Israel, pledging solidarity in its war against Hamas and backing its account that a blast that killed huge numbers of Palestinians at a Gaza hospital appeared to have been caused not by Israel but by its foes.On the earnings front, Morgan Stanley's third-quarter profit dropped less than expected as a strong performance in its wealth management division offset a hit from a lull in dealmaking. The company's shares, however, fell 2.8%.
Data on Tuesday showed U.S. retail sales increased more than expected in September fueling fears of higher-for-longer rates, with the Philadelphia Fed president Patrick Harker said in an interview with the Wall Street Journal that the U.S. central bank should extend its pause on interest-rate increases.
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