![]() That’s below Wall Street’s expectation of 0.3% but up from a negative reading in March. ![]() In the latest data news, April producer prices rose 0.2%, according to the Producer Price Index (PPI) just released this morning. That could occur if we approach the June 1 ceiling deadline with no deal.Īlso dragging the market this morning is weakness in Disney (DIS) shares after the entertainment company reported quarterly results that reflected additional subscriber losses for its TV streaming platform. There were no signs of progress after Tuesday’s meeting, but stock market volatility doesn’t reflect much strain yet. While a deposit decline at one bank doesn’t necessarily signal broader problems, the market is hypersensitive to anything affecting this sector.Īnother delicate issue is the debt ceiling, which takes center stage Friday for the second time this week when officials in Washington, D.C., meet again for high-level discussions. Other regional banking shares fell in sympathy ahead of the opening bell, and major indexes also came under pressure. This came as a reminder that we’re not out of the woods yet on issues with smaller banks. (Thursday market open) ) After a few days out of the spotlight, regional banks popped back into the news this morning as shares of PacWest (PACW) slid 20% following a sharp loss in deposits. Market now pricing in nearly 100% odds that Fed will pause hike at next meetingĪlex Coffey, Senior Trading Strategist, TD Ameritrade Regional bank jitters return following drop in deposits at PacWest April producer prices rose less than expected, providing more hopes of slower inflation
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |