The New York Stock Exchange is set to open on an uncertain note on Thursday morning, as investors continue to digest the Federal Reserve's announcements and the latest inflation figures.

Half an hour before opening, the Dow Jones futures contract is down 0.2%, but the Nasdaq is up 0.2%, heralding a mixed opening.

The Fed's monetary policy statement and the press conference given last night by Fed Chairman Jerome Powell somewhat dampened hopes that a cycle of monetary easing would soon begin.

The Fed's new 'dot plots' now show only one rate cut in 2024, as opposed to the three previously anticipated.

"The Fed is trying to strike a delicate balance between the risk of cutting rates too early and the risk of cutting them too late", explains Pictet Wealth Management.

The prospect of rates remaining at current levels could be seen as an unfavorable factor for equities, but the Nasdaq still signed new all-time highs at the close last night.

According to the CME's FedWatch barometer, the market still considers the probability of a 25bp rate cut in September to be over 62%.

Now that the monetary date has passed, it's back to the economic indicators, which seem to be rather popular with investors.

Producer prices fell unexpectedly in May (-0.2%) on the back of lower energy prices, arguing in favor of monetary easing.

These figures come on top of consumer price indexes (CPI), which had already come in below expectations yesterday.

On the employment front, the Labor Department reported 242,000 new jobless claims in May.000 new jobless claims last week, an increase of 13,000, confirming the market's slowing trend.

Following these statistics, the yield on 10-year US government bonds continued to ease, falling back to 4.26%, its lowest level since the end of March.

The oil market remains bearish in the wake of Energy Information Administration (EIA) figures showing a rise in US crude inventories.

US light crude (West Texas Intermediate, WTI) is currently down 0.5% at $78.1.

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