Economic indicators showed the strength of the US economy as the latest week of Initial Jobless Claims was again released lower than expected (actual: 201k versus forecast: 217k, and also lower than the previous period: 213k). This data came out a day after the minutes of the Fed’s January meeting which indeed still maintains high interest rates higher for longer in the near future.
The S&P 500 closed at record highs Thursday (22/02/24) after Nvidia reported stronger-than-expected last year’s fourth quarter earnings, and forecast first quarter revenue at about USD 24 billion, more than what analysts were expecting.
Investors were no longer too fixated on the contents of the Fed’s January Minutes which showed that most central bank officials were still hesitant to cut interest rates immediately.
The Dow Jones closed higher on Wednesday (21/02/24) buoyed by last-minute buying ahead of the market close as investors were no longer too fixated on the contents of the Fed’s January Minutes which showed that most central bank officials were still hesitant to cut interest rates immediately. Policymakers are also unsure how long the tight monetary policy will last.
The Fed will release the January FOMC MEETING minutes on Wednesday (Thursday at 02:00 GMT+7), which may provide more insight into the central bank’s view, while the market currently expects to see four 25bps rate cuts this year, starting in June.
The Dow Jones closed in negative territory on Tuesday (20/02/24), as investors turned cautious on Nvidia ahead of its quarterly results, and the minutes from the Federal Reserve’s January meeting due later this week.
The US stock markets are set to be shuttered on Monday in observance of the Presidents’ Day holiday. Fed minutes highlight upcoming ECONOMIC DATA releases.
The US stock markets are set to be shuttered on Monday in observance of the Presidents’ Day holiday. Traders are looking ahead to the release of more quarterly earnings, including key results from Nvidia and Walmart, as well as the publication of minutes from the Federal Reserve’s January gathering.
U.S. Treasury yields rose and the dollar edged up against the yen on Friday after data showed U.S. producer prices increased more than expected in January, adding to the view that any interest rate cuts by the Federal Reserve are not imminent.
