On Tuesday, April 2, the financial market saw some interesting developments that investors should be aware of. Here are the top 5 things to know:
1. U.S. stock index futures fell as concerns arose that the Federal Reserve may delay an interest rate cut until the second half of the year. This led to lower pre-market trading, with the Dow Jones Industrial Average and the S&P 500 Index closing lower on Monday.
2. Expectations for the Fed to cut interest rates have declined after strong U.S. manufacturing activity data was released. This is good news for the dollar, which is currently just below a more than four-month high against major currencies.
3. Rubrik, a cloud data management platform, announced its IPO plan on Monday. The company is set to go public on the New York Stock Exchange with the stock code RBRK after seeing revenue growth in the past fiscal year.
4. Swiss banking giant UBS announced a new share buyback program of up to $2 billion to show confidence in the future. This follows previous share repurchases and may be an attempt to boost market confidence.
5. Oil prices rose on Tuesday due to signs of improving demand in China and the United States, as well as fears of supply disruptions in the Middle East. OPEC+ will also hold a meeting to review market conditions.
Overall, the financial market remains dynamic with various factors influencing investor decisions. Stay tuned for more updates on market developments.