By Staff Reporters
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U.S. stocks declined, trimming a strong start to 2023, as investors prepared for a busy week full of earnings data, economic reports, and monetary policy decisions. The Fed is expected to raise rates by a decelerated 25-bp rate hike later this week, and the European Central Bank and Bank of England are anticipated to increase their benchmark rates by 50 bps. Equity news was light to begin the week, and the economic calendar was quiet today before heating up, with the most notable report being the Dallas Fed Manufacturing Index, which improved but remained in contraction territory.
Treasury yields were higher, and the U.S. dollar increased, while crude oil prices fell, and gold declined.
Asian stocks were mixed as China returned to action following the week-long Lunar New Year holiday break, and markets in Europe also diverged amid some caution ahead of the data and monetary policy decisions.
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CITE: https://www.r2library.com/Resource/Title/082610254
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ORDER: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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