The US central bank is to notch up on Wednesday its efforts to withdraw the stimulus it showered on the US economy after the pandemic upended global economies two years ago. Fed officials are expected to raise the benchmark rate by a half percentage point and approve plans to start …
Read More »Gold is falling with an imminent hike in the US interest rate
Gold prices fell on Wednesday with the increase in the yield on US Treasury bonds and an imminent hike in the US interest rate, which negatively affected the demand for the precious metal. Spot gold prices fell 0.1 percent to $865.31 an ounce by 0040 GMT. US gold futures fell …
Read More »FOMC Considers Aggressive Measures As Investors Await Rate Decision
The investors’ major focus point on Wednesday will be on the decision and press conference by the two-day Fed’s policy meeting, as financial markets expect the US central bank to press ahead with a rate hike and formally announce the launch of a much-anticipated balance sheet reduction.The Federal Open Market …
Read More »Banks, Megacaps drive Wall Street as Fed decision looms
Wall Street’s main indexes rose on Tuesday, as investors picked up shares of financials and beaten-down Megacap companies, while staying cautious about the Federal Reserve’s ability to tame inflation without impeding growth.Nine of the 11 major S&P 500 sectors rose, with energy (.SPNY) and financials (.SPSY) up 2.7% and 1.7%, …
Read More »US Stocks Waver Ahead of Fed Meeting
US stock indexes wobbled as investors geared up for the Federal Reserve’s policy decision this week and evaluated a batch of earnings.The S&P 500 was recently up 0.2%, a day after a late rally lifted stocks on Monday. The technology-focused Nasdaq Composite lost 0.2% while the Dow Jones Industrial Average …
Read More »Gold Traders Sidelined Ahead Of Fed Decisions
At $1,871.10, the gold price is firmer on Tuesday, rising from a low of $1,850.47 to a high of $1,878.14 so far. The price has upheld the bid in synch with a slight retreat in US Treasury yields and the US dollar ahead of this week’s Federal Reserve went.The US …
Read More »Market Drivers – US Session – Fri. 29 April
The week finished with prevalent negative market sentiment. US equities recorded hefty losses, between 2.77% and 4.17%. China’s coronavirus outbreak which has lasted for the last couple of weeks threatens to disrupt supply chains. The US central bank’s increasing rate hikes to tackle inflation and the Ukraine-Russia conflict, further entering …
Read More »Nasdaq retreats to worst low since 2008 crisis
US equities and stocks plunged on Friday, with the Nasdaq marking its worst month since October 2008 and the S&P notching its worst month since March 2020 at the onset of the Covid pandemic.The tech-heavy Nasdaq fell 4.2% on Friday, dragged down by Amazon (AMZN), which dropped nearly 15% after …
Read More »Fed Could Decide Three Successive Hikes 50bp Each
Analysts at Danske Bank continue to expect the Federal Reserve will hike interest rates by 50bp three meetings in a row (May -next week-, June and July) and 25bp on each of the last three meetings (September, November and December). They are still of the view that risks are skewed …
Read More »Fed’s Beige Book: Hot inflation, supply difficulties weigh on US firms
Supply chain bottlenecks, the highest inflation in decades and a persisting labour shortage are weighing on businesses across the country, according to a new Federal Reserve report. In its region-by-region roundup of anecdotal information known as the Beige Book, the Fed reported that while economic activity increased at a “moderate …
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