Debt-limit update | Reports Fed watches signal another 25bp hike in rates | Iran seizes oilA report due today from the Fed will examine what happened with SVB and who's responsible. Randal Quarles, former vice chair of supervision at the Fed, told CNN that he doesn't expect the report to uncover any smoking guns. However, new details could shed light on how the bank imploded and what, if anything, could have been done to prevent it.
Russia hurled missiles at cities across Ukraine as people slept, killing at least 16 people in the first large-scale air strikes in nearly two months. The early-morning attacks were carried out as Kyiv prepares to launch a counteroffensive to try to retake Russian-occupied territory. U.S. equities/markets yesterday: All three major indices closed with solid gains after the government reported first quarter GDP was 1.1%, slowing greater than expected as a figure of around 1.9% had been anticipated. The Dow closed up 524.29 points, 1.57%, at 33,826.16. The Nasdaq rose 287.89 points, .243%, at 12,142.24. The S&P 500 gained 79.36 points, 1.96%, at 4,135.35. Gold and the dollar were little changed. Oil prices rose after Russia said OPEC+ sees no need for further output cuts.
• U.S. personal consumption expenditures price index excluding food and energy for March is expected to increase 0.3% from one month earlier and 4.5% from one year earlier. UPDATE: The PCE price index in the U.S. rose 0.1% in March, easing from a 0.3% advance in February. The core PCE price index was up 0.3%, the same as in the previous month and in line with expectations. On a yearly basis, the PCE inflation slowed to 4.2%, the lowest since May 2021, while the core index eased to 4.
Peak-season pressure is starting to reach pricing in container shipping's spot market. Costs to ship boxes from Asia to the U.S. West Coast have surged this month, the Wall Street Journal reports, as container lines try to reverse a monthslong slide in rates that has hit carrier earnings and raised alarms about a bigger financial hit later this year. Xeneta says rates have jumped 34%, or $425, over the past two weeks.
— Russian oil is still powering Europe with help from others. European Union rules that ban any seaborne imports of Russian products don't prevent countries such as India from buying cheap crude from Moscow, turning it into diesel and other fuels, and shipping it back to Europe at a markup.
Sen. Chuck Grassley likes the coming announcement. This from a Grassley tweet: "Grassley tweet: Seeing reports that EPA will issue last minute waiver 2 allow E15 for summer driving which is common sense + about time since consumers can save $$ at the pump w higher blends of ethanol and gas price$ continue 2 rise.
Details: The fleets rule would bar truck manufacturers from selling any combustion-engine vehicles in the state starting in 2036. The requirements would gradually take effect for different categories of vehicles. When in full operation, the projects will involve more than 60,000 farms and 25 million acres of working lands, including woodlands, using such practices as nutrient management and cover crops to sequester a combined 60 million tonnes of carbon in the soil and in trees, said USDA. The projects will run from one to five years.— The anti-obesity drug tirzepatide could become the top-selling drug of all time. The treatment, trademarked Mounjaro, mimics a hormone which controls hunger.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »