Markets

Day Ahead: Fed minutes, jobs, crude oil inventories

(mtag101702) Editor: Dhirendra Tripathi

investing. com – Stocks fell on the balance of power and finance shares. 10-year Treasury yield fell to its lowest level since February.

Investors are waiting for clues about the course of the economy and the interest rate in the Fed minutes, which will be published on Wednesday.

Thanks to strong economic data, the stock market has broken records one after the other in the last days. However, concerns about the possible economic impact of a rapidly spreading variant of Covid-19 may undermine optimism.

Oil prices also fluctuated on Tuesday. OPEC+ failed to reach an agreement on oil production levels for August and beyond.

On the other hand, Didi Global Inc ADR (NYSE: DIDI) shares fell by 22% after Chinese authorities ordered them to remove the Didi app from local app stores.

This week is a weak week for interest reporting.

Three developments that are expected to affect the markets today:

1. Fed minutes

Fed on Wednesday, June minutes will share. Central bank officials pointed to the possibility of two rate hikes in 2023. Many people will see if the hawkish public comments made by some Fed officials since that meeting match up with the minutes.

2 Job Opportunities

U.S. Bureau of Labor Statistics job opportunities and workforce segment information, likely to show a gap of 9.388 million jobs in May. In April, that reading was 9.286 million.

(mtag101703)3. oil stocks

The American Petroleum Institute (API) weekly crude oil stocks report will be released on Wednesday. The latest report showed a decrease of 8.1 million barrels. Commodity investors will carefully examine both the industry’s and the government’s report after OPEC+ failed to reach an agreement for the August production level.

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