Wyllian Capucci
05/06/2021
CEOs
The biggest banks on Wall Street did a blockbuster in the last quarter, and their bosseswill face Congress today to explain why they didn’t do more to helpAmericans in difficulty. David Solomon of Goldman Sachs Group Inc., Brian Moynihan ofBank of America Corp., James Gorman of Morgan Stanley, Charles Scharf of Wells Fargo & Co.,Jamie Dimon of JPMorgan Chase & Co. and Jane Fraser of Citigroup Inc. will appear by videoin front of a Democratic-controlled panel. They are likely to face questions aboutinequality and the growing wealth gap. Senator Elizabeth Warren predicted that thebarbecue would be “fun” for lawmakers.
Ricochet
Cryptocurrency volatility continues, with Bitcoin reaching $ 40,000 and Etherover $ 2,800. The Bloomberg Galaxy Crypto Index jumped up to 13%. The repressionregulation on Bitcoin mining continues, with China’s momentum to curb the practiceallegedly triggered by an increase in illegal coal mining. Iran has banned thecrypto mining before the peak demand for electricity in the summer. At the same time,time, there doesn’t seem to be an obvious catalyst for this morning’s bullish move.
Terms
Federal Reserve Vice Presidents Randal Quarles and Richard Clarida have only a fewmonths remaining on its terms and President Joe Biden is being urged to replace them.Democrats like Senator Warren made no secret of their disapproval of the role ofQuarles as a bank supervisor. Although the mandate of Fed Chairman Jerome Powell,finish early next year, three quarters of the economists interviewed by Bloombergexpect it to be reappointed.
Mixed markets
The markets are quite calm this morning and there has been little so far to change thedisplay on the feeling. Overnight, the MSCI Asia Pacific index increased by 0.3%,while Japan’s Topix index closed practically unchanged. In Europe, the Stoxx Index600 was stable at 6:50 am Brasília time, with banks being the main sector of theunderperforming industry. The S&P 500 futures pointed to a smallupward movement at the opening, the 10-year Treasury yield was at 1.571%, theoil was close to $ 66 a barrel and gold was above $ 1,900 an ounce
Coming
Quarles is the Fed’s only speaker today, but he makes up for it by appearing twice. The dataof US oil stocks are at 11:30 am. The US is selling $ 61 billion in5-year notes at 2:00 pm. Nvidia Corp., Snowflake Inc., Workday Inc., Dick’s Sporting GoodsInc. and Abercrombie & Fitch Co. are among the many companies that report today
Source:https://wintrademarkets.com/
