Downturn on Dom Futures Grim Fed Outlook: Income, GDP in Focus


Thursday market minutes

  • Global stocks are slowing as the Fed, but rates remain unchanged, but present a grim picture of the US recovery plagued by the coronovirus epidemic.
  • Fed Chair Powell says the FOMC is “not even thinking about raising rates”, while recent consumer and jobs data suggest the recovery is stalling.
  • GDP data for the three months ending in June represent the largest collapse on record, with the Commerce Department forecasting a yearly contraction of -32.9%.
  • German’s seasonally adjusted Q2 GDP liaison -10.1%, the worst record for Europe’s largest economy.
  • The dollar rebels from a recent two-year low against a basket of its global peers, but the 10-year Treasury note is 0.551% above GDP data and weekly jobless claims, expected to rise to 1.45 million at the end of the week is. On 25 July.
  • Tech giants report quarterly earnings after the closing of Apple, Facebook, Google and Amazon Trading, exactly one day after MPs on Capitol Hill faced pointed opposition questions.
  • US equity futures suggest weak openings on Wall Street before earnings from Eli Lilly, Procter & Gamble, Comcast, UPS, MasterCard and Kellogg prior to the start of trading.

US equity futures declined on Thursday, while the dollar rebounded from its two-year low and gold remained near its recent record high as investors hung for a significant range of technical income and economic data that Can reduce Federal Reserve momentum and anxiety. Depth of coronovirus recovery of the nation.

Fed Chairman Jerome Powell on Wednesday placed the global coronavirus epidemic at the center of his monetary policy framework, telling reporters through a video conference in Washington that he was “not even thinking about boosting jobs”. Growth and slowing were amid rising signs of consumer confidence.

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