U.S. stocks rallied Monday as investors prepare for a busy week full of vital economic data that could put the Federal Reserve on a violent deal in interest-raising plans.
The S&P 500 fell by about 0.2%, while the Dow Jones Industrial Average fell 130 points. Nasdaq Composite increased 0.3%. The move comes after all three major bankers registered their second week of profits on Friday to close with a one-month high. Meanwhile, bond yields continued to rise, and U.S. Treasury Treasurer 10-year-old approached 2.5% on Monday morning.
Investors are starting to raise prices this year after Fed Chairman Jerome Powell pointed out that there were 50-point hurdles as officials relied on borrowing costs aimed at curbing inflation. Economic data coming out of Washington this week may further boost expectations that central bank policy makers may continue to move up the point.
The most important March performance report is the most prominent of the economic reports this week. The tightening of the labor market has greatly enhanced the Fed's decision to tighten monetary policy, and economic downturns suggest to officials that the US economy could cope with unfavorable financial conditions. In addition, while the developing labor market is favorable in U.S. households, widespread job creation has opened up opportunities for workers to earn higher incomes, further boosting wage earnings and further escalating inflationary pressures. The report is likely to show some strong learning and earnings expected to rise by 490,000.
"The payoff report could be a huge boost to the recovery from the epidemic," FWDBONDS economics chief Christopher Rupkey said in a recent post. "Federal Reserve officials are already demanding a 50-point increase in upcoming meetings, and a strong labor market since the 1960s is like pouring gas into a fire where any policy-maker calling for salt is burning. % at neutral levels now. ”
Another major focus for traders on economic data earlier this week is a new reading of monthly personal expenditure (PCE) readings to be released on Thursday. The gauge is another indication of how fast prices are rising across the country. Consensus economists expect the PCE to post another 0.6% rise in February. The key PCE index, which the Fed uses to implement monetary policy, is expected to show an increase when the press publishes on Wednesday. Consensus economists demanded a 5.5% increase in the main PCE in February, compared to the January 5.2% increase.
Russia's continued attacks on Ukraine also continue to be in the headlines for investors. U.S. officials have retracted opposition remarks made by President Joe Biden over the weekend that appeared to mean the removal of Russian President Vladimir Putin during a speech in Poland.
Secretary of State Antony Blinken told reporters on Sunday during a visit to Israel that the US did not want to remove Putin from power.
"As you know, and as you have heard us say many times, we have no plans to change the regime in Russia or anywhere else," Blinken said. “In this case, as in any case, it is the people of the country in question. To the Russian people. "
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9:30 a.m. ET: Shares are dying in a busy week of ongoing economic data
Here is where the markets were trading during the opening of Monday:
S&P 500 (^ GSPC): -4.40 (-0.10%) to 4,538.66
Dow (^ DJI): -41.98 (-0.12%) to 34,819.26
Nasdaq (^ IXIC): +12.18 (+ 0.09%) to 14,181.48
Crude (CL = F): - $ 7.38 (-6.48%) to $ 106.52 barrel
Gold (GC = F): - $ 21.10 (-1.08%) to $ 1,933.10 per ounce
10-year Treasury (^ TNX): -3 bps to generate 2.4620%
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9:12 a.m. ET: HP wants to buy Poly for a $ 3.3 billion deal
HP Inc. (HP) is committed to acquiring the maker of audio and video devices Poly for a $ 3.3 billion deal as the company looks to benefit from the growth of the mixed-use industry.
The information technology company has donated $ 40 per share, or about $ 1.7 billion, to Poly, formerly known as Plantronics. The price represents about 53% of the final closing price of the stock.
"The rise of the mixed office creates an opportunity to redefine and redefine the way work is done," said HP chief executive Enrique Lores.
HP shares fell 2.2% in the stock market reaching about $ 38.95 a piece from 9:10 a.m. ET. During that time, Poly’s stock (POLY) increased by 48% to $ 38.87 per share.
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7:55 a.m. ET: Stock futures are low after notch indicators for two straight weeks of profits
After nine consecutive profit sessions, Apple Inc. (AAPL) is set to close its long-term winning round this year following a report by the iPhone maker reducing the production of its iPhone SEs by about 20% next quarter due to low consumer electronics consumer demand.
Apple stocks fell 2% in market trading on Monday. Apple traded at about $ 172.48 per share from 7:53 a.m. ET.
The technology chief has also reduced orders for its AirPod mobile phones by more than 10 million units by 2022. AirPods have become the most popular earphones, helping Apple hold more than 25% of the global market share,.
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