🔊Upcoming Economical Events To Watch:
🔹1. U.S. CPI Inflation - Wednesday
🔹 Fed FOMC Minutes - Wednesday
🔹 U.S. PPI Inflation - Thursday
🔹 Initial Jobless Claims - Thursday
🔹JPMorgan Chase $JPM Earnings - Friday
🔹$C $WFC $BLK Earnings - Friday
🔹 Consumer Sentiment - Friday
- The Standard and Poor's 500 fell this week to start Q2 on a sour note as Federal Reserve officials indicated they were in no rush to cut interest rates.
- Fed Chair Jerome Powell said this week that most policymakers believe it will be appropriate to start reducing interest rates at some point in 2024, though more evidence was needed that inflation is easing. Several other Fed officials echoed similar remarks throughout the week.
- Last month, the central bank's Federal Open Market Committee kept its benchmark lending rate unchanged, its fifth straight pause, and maintained expectations for three cuts this year. The FOMC started tightening monetary policy in March 2022 to tame inflation.
- Nonfarm payrolls climbed by 303,000 last month, exceeding the Street's views for a 214,000 gain, the US Labor Department said in a report on Friday. The unemployment rate came in at 3.8%, meeting market expectations.
- Next week's economic calendar will feature the key official consumer and producer inflation reports for March, and an initial reading of consumer sentiment for this month. Minutes of the FOMC's March meeting are scheduled to be released Wednesday.
