US stock markets started quietly on Monday as investors awaited the Federal Reserve's rate decision on September 17-18, with expectations for a rate cut influencing market movements.
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A new Kansas City Fed conference study revealed that the Federal Reserve's aggressive rate hikes were essential in gaining public trust and controlling U.S. inflation over the past two years.
Elon Musk criticized the Federal Reserve's decision not to cut interest rates, calling it "foolish" and warning that the policy could harm the US, which could potentially stall economic growth.
US job growth slowed unexpectedly in July, with only 114,000 jobs added, raising the unemployment rate to 4.3%, the highest since October 2021.
The S&P 500 slid 0.78% on Thursday while the Dow fell 1.29%. Read more about it here.
Atlanta Federal Reserve President Raphael Bostic has reportedly indicated that the US economy is likely slowing down, which could prompt interest rate cuts this year.
JPMorgan Chase CEO Jamie Dimon is urging the US Federal Reserve to exercise patience and refrain from cutting interest rates until after June.
Amid signs of an economic slowdown, ING Economics predicts that the US Federal Reserve will cut interest rates six times in 2024.
After the victory of the Republican Donald Trump last week, the Vice Chairman of the Federal Reserve Stanley Fischer reiterated on Friday his request for the actual implementation of Trump’s promise during campaign that he will provide an additional fiscal policy stimulus to the US economy.
US labour market is gaining grounds helped by robust consumer spending, despite poor profits among corporate giants. The country added more than 200,000 jobs per month, with an average recruitment totalling to 213,000 new jobs a month in the past four years.
Profit booking pulled yellow metal on Monday below psychological mark-$1,250 an ounce. Gold price fell for four weeks in the past five weeks.
A two-day policy meeting of US Federal Reserve will conclude on Wednesday. US Fed Chair Janet Yellen is expected to keep short-term interest rate unchanged for now and may go for a hike in June.
Investment firm BlackRock has modernized its trading policies with the help of twenty tech skilled members' team. The company is shifting to electronic trading to overcome market challenges.
According to a latest 'Beige Book' from US Federal Reserve, economic activity in some districts has been slowing down, while some recorded modest growth in labor market. The latest financial market crash also hit consumer spending severely in some areas.
Investors are concerned as the US stock index futures turned weaker. The marginal recovery in oil price amid drop in the US dollar puts the Wall Street on cautious note. On the other hand, Asian and European stocks were trading marginally higher on oil price recovery and drop in US dollar.
