U.S./Canada trade officials to meet | Forbes on U.S./U.K. FTAHouse Speaker Kevin McCarthy accepted an invitation to meet with President Joe Biden on May 9 about the debt ceiling. As noted, on Monday, Biden invited the top four congressional leaders, including McCarthy, to discuss a plan to make progress on debt ceiling talks, following months of an impasse between the president and House Republicans.
Senior Ukrainian official tells Reuters that talks on the Black Sea Grain Initiative are currently set for today, with all sides taking part. Kremlin spokesman Dmitry Peskov reiterated Tuesday that portions of the Black Sea Grain Initiative regarding Russian interests were not being implemented. Further, the Kremlin said the window for continuation of the deal was shrinking and ongoing talks between the parties involved had not yet produced any results.
U.S. equities yesterday: All three major indices ended with losses after slipping into negative territory in the final portion of trading. The Dow was down 46.46 points, 0.14%, at 34,051.70. The Nasdaq was down 13.99 points, 0.11%, at 12,212.60. The S&P 500 eased 1.61 points, 0.04%, at 4,167.87.• U.S. job openings are expected to fall to 9.7 million in March from 9.9 million one month earlier. • Federal Reserve begins its two-day policy meeting .
Australia's central bank shocked investors with a 25-basis-points hike Tuesday, also warning that more rises may be needed — sticky inflation was to blame. The market thought the Reserve Bank of Australia was done hiking after it paused rates at its April meeting. The Australian dollar and government bond yields surged Tuesday, while stocks fell.• Outside markets: The U.S. dollar index was slightly higher with the euro, yen and British pound all weaker versus the greenback.
—Ukraine officials warn their grain exports could fall to around 26 million tonnes for 2023-24 on a smaller grain harvest due to Russia's invasion of the country. Ukrainian grain exports so far in 2022-23 have totaled 41.6 million tonnes and officials are hoping for a total of around 50 million tonnes.
The commonsense arguments Forbes provides: a pact would mean richer economies for both countries. Prices for products and services would come down, te notes, because tariffs would be cut or eliminated. Supply chains, he adds, would be"more resilient and reliable."
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