All eyes on Fed as stock market pines for rate cut - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

  • 📰 SABC News Online
  • ⏱ Reading Time:
  • 60 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

All eyes on Fed as stock market pines for rate cut

Many investors had been looking toward the Group of 20 summits later this month for more definitive signs of the direction of trade talks between the United States and China, giving the Fed a clearer picture.

Those gains came on the heels of a selloff in May of nearly 7% in the S&P, largely fuelled by investor concerns that trade wars were escalating, slowing the economy and putting it at risk of falling into a recession. “The market has somehow convinced themselves that we are in an easing cycle. I am not sure how we got so far ahead of ourselves,” said Art Hogan, chief market strategist at National Securities in New York.

Many investors had been looking toward the Group of 20 summits later this month for more definitive signs of the direction of trade talks between the United States and China, giving the Fed a clearer picture on whether to take action on rates at the July meeting. According to CME’s FedWatch tool, money market traders are pricing in an 88.4% chance of a rate cut of at least a quarter of a percentage point in July.

Economic data this week was a mixed bag, with retail sales topping expectations and halting a tide of weak indicators, including the payrolls report and readings on inflation in the form of May consumer and producer prices with implications for core personal consumption expenditures, the Fed’s favourite inflation measure.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 32. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

SABC election coverage was fair: Media Monitoring Africa - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Media Monitoring Africa Director William Bird says despite the public broadcaster’s financial situation, the SABC managed to deliver overwhelmingly fair election coverage.
Source: SABC News Online - 🏆 32. / 51 Read more »

SABC election coverage was fair: Media Monitoring Africa - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Media Monitoring Africa Director William Bird says despite the public broadcaster’s financial situation, the SABC managed to deliver overwhelmingly fair election coverage.
Source: SABC News Online - 🏆 32. / 51 Read more »

SAA in the spotlight at State Capture commission - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.SAA and how it was captured will take centre stage for the next two weeks at the State Capture commission. Evidence leader Adv. Kate Hofmeyr told Deputy Chief Justice Raymond Zondo that testimony will be given regarding a R15-billion capital raising exercise that SAA embarked on in 2015.
Source: SABC News Online - 🏆 32. / 51 Read more »

Police officer shot and killed in alleged domestic dispute - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.A KwaZulu-Natal police officer was on Wednesday shot and killed during an alleged domestic dispute in Mpumalanga, west of Durban.
Source: SABC News Online - 🏆 32. / 51 Read more »