Following the better-than-expected job gains in May, Morgan Stanley said they continued to “see the Fed on hold at the June meeting, and think the bar will be too high for the Fed to resume hiking.”
On Capitol Hill, meanwhile, a measure to lift the debt limit and cut government spending was passed in the Senate, a key final hurdle for the legislative measure, which now moves onto President Biden’s desk to be signed into law and averts an unprecedented default. [W]e’re going to work very quickly with them to get this done to make sure we can sign it, hopefully as soon as tomorrow,” Press Secretary Karine Jean-Pierre said Friday, responding to questions about when Biden might sign the legislative measure.prices gained on speculation that OPEC and its allies, or OPEC+, could announce a cut at its meeting in Vienna on Sunday.
“The decision to hold an in-person meeting in Vienna one month before everyone returns for the OPEC Seminar does raise the prospect that the group could decide to do a deeper cut to provide further support to the market as it continues to contend with broader macro concerns,” RBC said in a note. Materials were also in the ascendency, driven by a 7% surge in Dupont De Nemours Inc after the chemical company -- together with
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