![]() 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. banking sector, especially regional banks, whose shares dropped sharply Tuesday. After a period of calm, there are renewed worries about the U.S. stock market Tuesday, led by banking shares. Risk aversion has up-ticked at mid-week, following solid losses in the U.S. stock indexes are mixed in afternoon trading. Global stock markets were mixed to higher overnight. However, the manufacturing sector lost 38,000 jobs. ADP national employment report came in strong, showing 296,000 jobs were created in April, almost double the forecast, and compares to a revised March reading of 142,000 jobs created. The key non-farm payrolls number is forecast to come in at up 180,000 versus a rise of 236,000 in the March report. The marketplace is now looking forward to Friday’s April U.S. The ECB is also expected to raise its main interest rate by a quarter-point. The European Central Bank meets Thursday. Some market watchers are calling todays’ FOMC statement “a hawkish pause.” Traders now await the press conference from Fed Chairman Jerome Powell. economy continues to grow modestly, but the tighter bank credit conditions are likely to weigh on the economy. The rate hike move was unanimously agreed upon by the committee. The FOMC statement signaled the committee will likely pause in its rate-hiking cycle. Federal Reserve Open Market Committee (FOMC) meeting saw the Fed raise the Fed funds rate range by 0.25%, to 5.00 to 5.25%, as expected. dealings Wednesday, in the immediate aftermath of an interest rate increase from the Federal Reserve that was widely expected. ( Kitco News) - Gold and silver prices are higher and hit daily highs in afternoon 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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