Market Overview - Page 176

The preliminary estimate indicated an annualised growth rate of 6.4% for the US economy in the previous quarter. These figures marked an acceleration from the last quarter (4.3%) but a bit worse than the average expectation of 6.8%. With the.

Powell’s speech yesterday and the FOMC’s official post-meeting commentary suppressed speculations of early QE tapering and rate hikes. The Fed chairman focused on fragile economic recovery and reiterated the transitional nature of rising inflation based on a low base effect..

President Joe Biden will unveil on Wednesday a sweeping $1.8 trillion plan to expand educational opportunities and child care for families, funded in part by the largest tax increases on wealthy Americans in decades — the centerpiece of his first.

Chinese tech giant Huawei said Wednesday that its revenues dropped sharply in the first quarter as U.S. sanctions took a toll on its business. Huawei’s revenues fell 16.5% year-on-year to 152.2 billion Chinese yuan ($23.5 billion) in the three months.

India reported a record daily death toll on Wednesday as total Covid-19 fatalities crossed the 200,000 mark. Government data showed at least 3,293 people died over a 24-hour period. Overall cases also rose by a record 360,960 reported infections, marking.

U.S. equities were mixed as investors parsed the latest batch of corporate earnings reports and awaited clues on the timing of stimulus tapering by the Federal Reserve. The S&P 500 was little changed while the Nasdaq 100 fell after the.

The US trade deficit continues to widen. Preliminary merchandise trade figures for March show a record excess of imports over exports of 90.6 billion. By the level of March 2020, imports increased by 20% or $39 billion. During the same.

Markets are trading flat in anticipation of Fed Chairman Powell’s speech. FOMC comments and hints of future policy changes could also shape the dollar over the coming months. Market observers are once again cautiously waiting for a change in the.

Oil prices rose on Tuesday as OPEC+ sources said the producer group would stick to existing plans to boost oil output slightly from May 1, suggesting they do not see a lasting impact on demand from India’s coronavirus crisis. The.

U.S. consumer confidence jumped to a 14-month high in April as increased vaccination against COVID-19 and additional fiscal stimulus allowed for more services businesses to reopen, boosting demand and hiring by companies. The upbeat survey from the Conference Board on.

President Joe Biden is expected to pitch a higher capital gains tax this week to raise funds for his economic agenda. But the policy would lose the U.S. billions in revenue if it doesn’t also scrap a tax break for.

This week’s Federal Reserve meeting could be the last before the central bank sets the stage for how and when it will start to roll back the extraordinary easing policies it adopted to fight the pandemic. Fed officials are not.