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BlockBeats News, May 29th. According to CME FedWatch Tool data, the market's expectations for interest rate cuts this year have been almost entirely erased, with some even contemplating a potential 75 basis point rate hike. Currently, the probability of the Fed holding rates steady through the end of 2026 is 51.9%. The probability of a cumulative 25 basis point rate cut throughout the year is only 0.5%, while the probabilities of a cumulative 25 basis point rate hike, 50 basis point rate hike, and 75 basis point rate hike are 37.3%, 9.3%, and 1%, respectively. Furthermore, the probability of a 25 basis point rate cut at the next Fed meeting in June is 1.1%.

Among the ten sectors, the Nordic industrial sector saw the largest drop. Alfa Laval AB fell by 3.3%, making it the worst performer among the Nordic stocks.

This strategic move aims to optimize Chevron's presence in a complex market environment, strengthen its cooperative relationships with local governments, and thereby create more favorable conditions for future business development. The asset adjustment helps the company respond more flexibly to regional challenges and may enhance its long-term investment returns. Analysts believe this reflects the energy giant's pragmatic approach to managing geopolitical risks, consolidating its overall market position through local adjustments, and ensuring continued influence in key oil-producing regions.