Wyllian Capucci
05/27/2021
Competition
The period of engagement with China is over for the USA, replaced by one ofcompetition, according to Kurt Campbell, the US coordinator for Indo-Pacific affairson the National Security Council. Your comments were made before what was describedas “frank” conversations between U.S. Trade Representative Katherine Tai and DeputyPrime Minister of China, Liu He, while the two sides try to resolve some of their differences. IT’SPresident Joe Biden’s call for a deeper investigation into theCovid-19 source helps a lot to help relations, with Chinese diplomats getting angrywith any suggestion that it came from a laboratory in Wuhan.
Falling down
Weekly unemployment insurance claims are expected to continue their recent movementbearish when the data is published at 9:30 am Eastern Time. About425,000 new applications for unemployment benefits are expected last week,with continued orders falling to less than 3.7 million. The data are released on themoment when policymakers seem to be increasingly confident about theeconomic outlook, with Federal Reserve Vice President Richard Clarida and Vice PresidentFed chairman for oversight, Randal Quarles, saying the time to startdiscussing the reduction of asset purchases at FOMC meetings is coming
Activists
Climate concerns are ahead and at the center for some of the biggest companiesof oil in the world. Exxon Mobil Corp. CEO Darren Woods saw aactivist investments – with only 0.02% of the company’s shares – win two seats in theadvice, as it failed to appease climate-conscious investors. The shareholdersfrom Chevron Corp. rejected the council’s recommendation and supported a proposal toreduce the emissions of the company’s customers. Royal Dutch Shell Plc was convicted of aDutch court to cut emissions by 45% by 2030, much faster than the companyhad planned.
Mixed markets
It is another very silent session for global equities, with investors waiting for theUS data this morning. Overnight, the MSCI Asia Pacific Index fell 0.2%, while theJapan’s Topix closed down 0.5%. In Europe, the Stoxx 600 Index was 0.1% higher at 6:50 am,Brasília time, with mining companies being, in a way, the industry sector with the bestperformance. The S&P 500 futures pointed to a slightly lower opening, the10-year Treasury yield was 1.582%, oil was being tradedbelow $ 66 a barrel and gold was stable.
Coming
April durable goods orders and first quarter GDP second readingaccompany the claims data at 9:30 am. GDP and personal consumption figures shouldbe slightly revised upwards. Pending home sales in the U.S. in April areat 11am. Kansas City Fed Manufacturing is at 12 noon, at the same time as the secretaryTreasury Officer, Janet Yellen, is expected to appear on the House’s appropriation panel. CEOs ofWall Street are back in Congress for the second day of their interrogation.Salesforce.com Inc., Costco Wholesale Corp., Dell Technologies Inc. and Best Buy Co Inc. areamong the many companies that reported results
Source:https://wintrademarkets.com/
