Home » Wall Street cautious after minute Fed, Eyes on Tomorrow’s Non-Farm Payrolls

Wall Street cautious after minute Fed, Eyes on Tomorrow’s Non-Farm Payrolls

by admin
  1. Home ››
  2. News >>
  3. News Italy ››


FACEBOOK
TWITTER
LINKEDIN

The major Wall Street indices travel close to parity. The Dow Jones fell 0.2% while the S&P 500 and the Nasdaq advanced 0.1%. Yesterday the Dow Jones finished in the red for the first time since the beginning of 2022, falling by almost 400 points; the S&P 500 fell nearly 2%, while the Nasdaq suffered its strongest daily loss in nearly a year, since February 2021, slipping 3.3%.
Sales on the technology list are still in the wake of the rise in bond yields (T-Bond at 1.728%) but should nevertheless maintain a lower tone compared to the red trend of the major Milan squares, having already partially discounted yesterday the spread of minutes of the FOMC.
In fact, the minutes revealed the Fed’s intention to raise rates on fed funds earlier or faster and, also, to reduce its balance sheet. The forecasts are for three increases in the cost of money during the year, with an initial adjustment of 25 basis points expected as early as March.
A decision that would seem to ignore the uncontrolled spread of the Omicron variant, bottlenecks along the supply chain, as well as other sources of concern such as regulatory repression in China.
Today’s US macro agenda saw the release of the US trade balance for November which revealed a negative balance of $ 80.2 billion. slightly lower than analysts’ expectations (negative balance of € 81 billion). The attention of the operators will then shift to the December Non-Farm Payrolls due out tomorrow.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy