FILE PHOTO: A trader works on the trading floor at the New York Stock Exchange in New York CityA sharp retreat in oil prices and a rare joint warning from major economies against excessive dollar strength have helped calm restive markets just as Big Tech earnings start to hit.
With markets keeping an eye on G7 and G20 finance chiefs in Washington at the International Monetary Fund meetings, the rare three-way statement agreed to "consult closely" on FX markets, acknowledging concerns from Tokyo and Seoul over their currencies' recent sharp declines. Financial stocks have had a rough week, with heavy earnings-related share price swoons for Travelers and U.S. Bancorp on Wednesday.
* Philadelphia Federal Reserve's April business survey, US March existing home sales, weekly jobless claims Jerry Dean McLain first bet on former president Donald Trump’s Truth Social two years ago, buying into the Trump company’s planned merger partner, Digital World Acquisition, at $90 a share. Over time, as the price changed, he kept buying, amassing hundreds of shares for $25,000 - pretty much his “whole nest egg,” he said.