US Federal Reserve Chairman Jerome Powell on Tuesday testified before the Senate Banking Committee. Powell in his prepared testimony told Senators that inflation had been improving in recent months but more good data would strengthen the case for interest rate cuts. “More good data would strengthen our confidence that inflation is moving sustainably toward 2%,” … Read more
Next week, Wall Street will see several key economic data such as the Federal Reserve minutes, employment numbers, S&P final US manufacturing PMI, and trade deficit data. Job openings data for May and nonfarm payrolls report for June are likely to be the major focus of the stock market participants. Last Friday, a report showed … Read more
Wall Street investors in the week ahead will be eyeing the US Federal Reserve preferred inflation gauge – PCE, and the personal income and spending data. Among the other crucial data, the second revised estimate of first quarter GDP (gross domestic product) growth and May home sales numbers are due in the week ahead. The … Read more
On Wall Street in the week ahead, the stock markets would be guided by key economic data such as US retail sales and factory output among others. The holiday-shortened week will also see few big earnings such as IT and consulting services firm Accenture and supermarket chain Kroger. Economic events On June 17 (Monday), data … Read more
TSX ends down 1.2% at 21,698.11 * Posts its lowest closing level since April 17 * Energy falls 3.1% * Financials end 1.2% lower By Fergal Smith June 13 – Canada’s main stock index fell to a near two-month low on Thursday, weighed by declines for financial and commodity-linked shares, as investors worried that the … Read more
World’s biggest cryptocurrency Bitcoin slid as much as 3.78 per cent to $66,817 on Tuesday reflecting trader anxiety ahead of the US inflation data release and the Federal Reserve’s monetary policy decision. Bitcoin reached a record high of $73,798 in March, boosted by inflows into dedicated US exchange-traded funds. However, it has struggled to achieve … Read more
June 7 – Benchmark 10-year U.S. Treasury yields posted their biggest daily jump in two months on Friday after data showed that U.S. job growth accelerated far more than expected in May, leading traders to pare back expectations that the Federal Reserve could begin cutting interest rates as soon as September. Non-farm payrolls increased by … Read more
On Wall Street in the week ahead, spotlight will be on the jobs data for May, among other economic reports. The jobs data holds significance as it will be the last economic report before the Federal Reserve’s upcoming monetary policy meet on June 11-12. Investors are hoping for a interest rate cut in the next … Read more
Oil prices saw a slight increase in subdued trading due to public holidays in Britain and the United States. This followed a week marked by concerns over U.S. interest rates amidst persistent inflation. The Brent crude July contract rose by 76 cents to $82.88 per barrel by 1411 GMT, while the more active August contract … Read more
In the holiday-shortened week ahead on Wall Street, focus of investors will be on the US Federal Reserve’s preferred inflation gauge – the core personal consumption expenditure (PCE) price index, and few major earnings that include Dell, Best Buy, and Costco. The core PCE data has the potential to influence the markets. The US stock … Read more