The hefty weight of tech megacaps, strange reporting rules for an upcoming OPEC meeting and more pain for consumers and businesses Down Under - these are just some of the topics preoccupying markets as they approach the halfway point of 2023.Traders work on the floor at the New York Stock Exchange in New York, Thursday, June 1.Some investors are growing concerned about how gains in the S&P 500 have become increasingly concentrated in a handful of megacap stocks.
Hungary became the first European bank to lower rates in May, following Uruguay, which kicked off the Latin American rate-cut cycle in April while Sri Lanka stunned markets with a 250-basis point rate cut on June 1. No-invitation journalists can still quiz oil ministers as they pass through the lobbies of Vienna’s glitzy hotels, but will not be admitted to the formal press conference.
Currency intervention is viewed as a distant prospect, but traders will likely pay attention to policymaker comments in coming days after officials from the finance ministry, BOJ and Japan’s financial watchdog met on Tuesday. Such meetings can be a prelude to further action.
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