![]() manufacturing reports on Monday seem to corroborate the Barrons story that more than just one quarter-point U.S. Australia's central bank shocked investors with a 25 basis-points hike Tuesday, also warning that more rises may be needed-sticky inflation was to blame." The Barrons story said the marketplace thought the Reserve Bank of Australia was done raising rates after it hiked by 25 basis points in April. But investors buying into that school of thought should heed a cautionary tale from Down Under. Corporate earnings reports continue to flow out this week, including Apple's results.Ī Barrons story today says: "Markets seem convinced the Federal Reserve will deliver one more quarter-point hike Wednesday before a lengthy pause. employment situation report from the Labor Department. The ECB is also expected to raise its main interest rate by a quarter-point. The European Central Bank also meets Thursday. interest rate (the Fed funds rate) by 0.25%. The FOMC is expected to raise its main U.S. Traders are anxiously awaiting the Federal Reserve's Open Market Committee (FOMC) meeting that begins Tuesday morning and ends Wednesday afternoon with a statement and press conference from Fed Chairman Jerome Powell. and China are on 'the brink of an economic resources war' This news may have also put a bid into the safe-haven gold market. Reports said President Biden is calling congressional leaders to the White House to discuss the matter. government could be in default on some of its payments by June 1 if the debt limit is not increased. Treasury Secretary Janet Yellen has warned the U.S. stock index bulls were enjoying price uptrends on the daily bar charts but hit a major speed bump today. stock indexes are sharply lower at midday. Some European markets and mainland China remained closed for a holiday. Global stock markets were mixed overnight. Check it out and let me know what you think.) (By the way, I encourage you to check out my new daily item, "Kitco daily macro-economic/business digest." If you need to be up to speed quickly on the latest news that's impacting or has the potential to impact the general marketplace, this report can be your one-stop shopping. "JOLTS" labor turnover survey report in two years helped to jolt the marketplace today. regional banking sector as very shaky, especially as the Federal Reserve is set to raise interest rates, which in theory should further undermine the banking sector that is already struggling with higher rates as bigger depositors opt for better returns in U.S. It appears that all of a sudden the marketplace is viewing the U.S. Treasury yields have also dropped on flight-to-quality buying amid the higher anxiety in the marketplace. ( Kitco News) - Gold and silver pricesare solidly higher on safe-haven buying interest as trader and investor risk aversion has quickly up-ticked amid a sharp drop in U.S. Receive a comprehensive recap of the day's top stories directly to your inbox. Get all the essential market news and expert opinions in one place with our daily newsletter.
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