Connect with us

Hi, what are you looking for?

Deluxe Investment Group – Investing and Stock NewsDeluxe Investment Group – Investing and Stock News

Economy

US Stock Data: Global Shares Mixed as Yellen Visits Beijing

US Stock Data: Global Shares Mixed as Yellen Visits Beijing

US futures for the Dow Jones Industrial Average and the S&P 500 slipped slightly by less than 0.1% ahead of the opening bell. The market’s attention turned to Yellen’s meetings with senior Chinese officials in an attempt to address various contentious issues and promote global financial stability. During discussions with business representatives, Yellen criticized China’s treatment of US companies and their global shares export controls on semiconductor materials while defending US controls on technology exports, citing national security concerns.

All Eyes on US June Jobs Report

The release of the June jobs report on Friday is expected to have a significant impact on the transfer of shares. Analysts predict an increase of around 205,000 jobs in the US economy for the last month. This figure would be the lowest since December 2020. However, it still indicates a solid performance and does not suggest that the Federal Reserve is done with its efforts to slow down the economy and curb inflation.

An explosive increase in private hiring, as reported by payroll provider ADP on Thursday, added to market anxiety. ADP’s data often diverge from the government’s official numbers, but the strong figures raised concerns about how a robust job market could influence the Federal Reserve’s decision-making.

Implications for Fed Policy and Bond Yields

The Federal Reserve may respond to the strong jobs data by maintaining higher interest rates for a longer duration in its ongoing campaign to cool the economy and address inflation concerns. This expectation led to a surge in bond yields as traders adjusted their bets, reducing hopes for a potential interest rate cut early next year.

In European trading, Germany’s DAX and France’s CAC 40 each advanced 0.5%, while Britain’s FTSE 100 lost 0.2%. Asian markets saw Tokyo’s Nikkei 225 dropping 1.2% and Hong Kong’s Hang Seng declining 0.9%. The Shanghai Composite index experienced a 0.3% decline, Australia’s S&P/ASX 200 plummeted 1.7%, India’s Sensex saw a 0.6% drop, while Bangkok’s SET index remained relatively unchanged.

Global Market Performance

In other global shares movements, US benchmark crude oil gained 32 cents to reach $72.12 per barrel, while Brent crude, the sale of certificated shares increased by 30 cents to $76.82 per barrel. The US dollar weakened against the Japanese yen, falling to 143.26 yen, while the euro rose to $1.0898.

On Thursday, the Dow Jones Industrial Average dropped 1.1%, the S&P 500 lost 0.8%, and the Nasdaq Composite fell by 0.8%, reflecting the cautious sentiment in the markets.

The post US Stock Data: Global Shares Mixed as Yellen Visits Beijing appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    Florida Gov. Ron DeSantis (R) needs a massive infusion of cash in the next two months of the Republican presidential primary race to help...

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Latest News

    The United States could be on track for a Joe Biden-Donald Trump rematch in 2024, but it’s the president’s son Hunter Biden who earned...

    Latest News

    A week ago, a Jan. 6 defendant was arrested near Barack Obama’s in D.C. with what the government says was a machete, two guns...

    Disclaimer: Deluxeinvestmentgroup.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2023 deluxeinvestmentgroup.com