The US Nonfarm Payrolls (Feb.) data that market participants were waiting for before the March 21-22 FOMC Meeting, released new job additions of 311K, higher than the forecast of 205K, but managed to fall far from the surprising January period of 504K.
Market participants are on edge over the Silicon Valley Bank collapse, which is the biggest financial collapse since the 2008 financial crisis; the Fed’s campaign to fight inflation has exposed vulnerabilities in the financial system that could grow if it ratchets up its rate hikes.
Wall Street index slumped more than 1% on Friday as investors stepped out on concerns about the health of US banks following the collapse of Silicon Valley Bank. The heated issue dragged all three US indexes down further than the previous week, where the S&P500’s minus 4.6% as week, a biggest weekly decline since September, eroding its YTD gain to just 0.6%. THe Dow Jones lost 4.4% while the Nasdaq also posted a negative performance of 4.7% this week, although the figure is still a 6% plus YTD.
BMRI recorded a fairly solid performance throughout 2022. BMRI posted their FY22 Net Profit of IDR 41,171 T, an increase of 47% YoY.
All three Wall Street indexes closed bearish between 1.7%-2.1%, pulled lower by bank stocks and jitters ahead of Friday’s employment report. At the same time, Treasury yields started to pull back in response to Initial Jobless Claims data that rose by 11% to 211K, higher than expected & previous week—the highest level in five months.
All three Wall Street indexes closed bearish between 1.7%-2.1%, pulled lower by bank stocks and jitters ahead of Friday’s employment report. At the same time, Treasury yields started to pull back in response to Initial Jobless Claims data that rose by 11% to 211K, higher than expected & previous week—the highest level in five months.
US stocks closed mixed around the flat territory as market participants grappled with Federal Reserve Chairman Jerome Powell’s second comments from Capitol Hill, as well as a slew of economic data ahead of next week’s Labor & Inflation data; a bellwether for future interest and rate decisions.
US stocks closed mixed around the flat territory as market participants grappled with Federal Reserve Chairman Jerome Powell’s second comments from Capitol Hill, as well as a slew of economic data ahead of next week’s Labor & Inflation data; a bellwether for future interest and rate decisions.
US stock indexes plunged above 1%, as the 2-year Treasury yield soared to its highest level since 2007, entering the upper 5% level as Federal Reserve Jerome Powell’s hawkish remarks ramped up bets on a return to aggressive rate hikes at the central bank’s March meeting; along with strong growth in February economic data.
