Fed s Barkin: We ll taper when we get to substantial further progress forexcrunch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forexcrunch.com Daily Mail and Mail on Sunday newspapers.
5/13/2021 2:52:41 PM GMT | By Eren Sengezer
The infrastructure program would be important for the US, Richmond Federal Reserve Bank President Thomas Barkin said on Thursday but noted that he is worried it could stretch available workers in key trades, as reported by Reuters.
Additional takeaways At all levels, people have more money to be choosy about jobs. Labor supply mostly an issue for firms paying lower wages, those offering over $15 an hour having less trouble. No specific analytic moment where debt-to-GDP is so high investors will demand higher rates. Strong demand will continue through 2021 and into 2022, supported by new business spending.
Futures Point To Broadly Positive Open
BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Asian shares finished mixed on Thursday, while European shares are trading lower.
Early cues from the U.S. Futures Index suggest that Wall Street might open broadly positive.
Trading on Thursday might be impacted by reaction to the latest economic data, including reports on weekly jobless claims and producer price inflation.
As of 7.30 am ET, the Dow futures were sliding 92.00 points, the S&P 500 futures were adding 1.50 points and the Nasdaq 100 futures were gaining 67.25 points.
The U.S. major averages ended Wednesday just off their lows of the session. The Dow tumbled 681.50 points or 2 percent to 33,587.66, the Nasdaq plummeted 357.75 points or 2.7 percent to 13,031.68 and the S&P 500 plunged 89.06 points or 2.1 percent to 4,063.04.
South Korea s benchmark stock index closed at its highest-ever level on Monday, powered by economically sensitive stocks such as transportation, brokerage and retail companies seen to have underperformed the market amid an improved earnings outlook.
The weaker-than-expected US jobs report for April, released last Friday, lessened fears that the Federal Reserve might tighten its policy anytime soon to cool an overheating economy, thus pushing US stock markets to their highest levels.
Cyclical stocks will likely continue to lead the broader markets higher, with relatively undervalued construction companies, refineries and automakers taking the baton from steel and chemical companies in rotational buying, analysts said.