Wyllian Capucci
14/07/2021
Expenses, inflation
Federal Reserve Chairman Jerome Powell begins his biannual testimony toHouse Financial Services Committee this morning, with Democrats on panelseeking their support for another round of government spending. republicans mustpoint to the impression of warmer-than-expected inflation yesterday as evidenceof the dangers of new stimuli. Powell will have to have answers for both at the sametime that you are aware that a decision about your own future remains at stake.Your testimony goes to the Senate tomorrow, before meeting with the secretary of theTreasury, Janet Yellen, on Friday to discuss the risks of the heated marketUS real estate
$3.5 trillion
Senate Democrats on the Budget Committee have agreed to a billa $3.5 trillion that would take most of President Joe’s economic agendaBiden without the need for Republican support. The president will be on Capitol Hill today fordiscuss the business. While there are still challenges to getting the support of all 50Democratic senators, the $6 trillion bill downsizing previouslydiscussed should help alleviate some concerns. Powell’s answers toquestions from today’s and tomorrow’s package may also carry some weight
Earnings
Wall Street’s second-quarter earnings season kicked off with a vengeance yesterday,with Goldman Sachs Group Inc. and JPMorgan Chase & Co. noting an increase intrading revenues. Bank of America Corp., Citigroup Inc. and Wells Fargo & Co. reporttoday with analysts looking for an increase in M&A in financial results.BlackRock Inc. also reports before the bell
Mixed markets
Global stock meters are mostly adrift this morning as theInflation fears continue to haunt markets that remain close to thehistorical maxims. Overnight, the MSCI Asia Pacific index fell 0.3%, while theJapan’s Topix index closed 0.2% below. In Europe, the Stoxx 600 Index fell 0.2% at6:50 am EDT, with technology companies rising on a report that theApple Inc. is preparing supplies for an increase in production. The S&P Futures500 pointed to a small upward movement at the opening, the Treasury yieldof 10 years was at 1.391%, oil fell and gold gained
Coming
Turkey’s central bank’s latest decision is at 8:00 am, with Canada at 11:00 am. the PPIfrom the US for June is at 9:30 am. The latest crude oil stocks data are at11:30 am Powell testifies in front of the Chamber panel at 1:00 pm. The last Beige Book ofFed is at 3:00 pm. The decision of Chile’s central bank is at 7pm. Delta Air Lines Inc.among non-financial companies that report results
Source:https://wintrademarkets.com/
