Anonymous ID: 076e05 April 30, 2024, 10:10 a.m. No.20800073   🗄️.is 🔗kun   >>0126 >>0137 >>0290 >>0408 >>0541 >>0606 >>0650 >>0691

Dow drops 400 points to close out losing April as Fed decision looms (Yawn)

 

(Oil and Natty gas down too with Au down 1.56% and Ag down over 2.5%)

 

Stocks tumbled on Tuesday to close out a losing month after higher-than-expected wage data raised fresh inflation concerns ahead of the Federal Reserve’s rate decision on Wednesday.

The S&P 500 edged down by 0.9% and was set to snap a 5-month winning streak with a 3% loss for April. The Dow Jones Industrial Average fell 408 points, or 1%, bringing its losses for the month to 4.3%. The Nasdaq Composite shed 1.1% to cap a 3% decline for the month.

The Labor Department said Tuesday the employment cost index, a measure of wages and benefits, added 1.2% in the first quarter, above the 1% consensus estimate from economists polled by Dow Jones. Treasury yields jumped following the data,with the 2-year yield topping 5%.

 

The Fed will make its interest rate decision Wednesday afternoon and officials are likely to express a reluctance to lower interest rates anytime soon as inflation data continues to point to elevated price pressures. The new labor cost report is “not a number that will incline the Fed to change their ‘there is no rush to ease’ stance,” said Tom Fitzpatrick, managing director for global market insights at R.J. O’Brien and Associates. Despite the April setback, the S&P 500 is still up more than 25% from its low last October as investors bet the economy could withstand higher rates and piled into AI plays like Nvidia. Data in the past month raised questions about whether stubborn inflation was weakening the economy while keeping the Fed in a restrictive mode. McDonald’s

 

in its quarterly report Tuesday warned about a more selective consumer due to higher prices. Nvidia traded into the red on Tuesday as it closed out April with a 3% decline. The favorite AI play of investors was up for five months straight before this month. Shares of Amazon, another big winner of the bull market, dipped before its quarterly update after the bell Tuesday. Following the Fed’s decision Wednesday, investors will next need to grapple with the April jobs report Friday.

 

Copper headed for worst day of the year Copper prices are down 2.38%, on pace for the largest daily decline since December 4, 2023 when prices fell -2.44%. If Copper ends the day down more than -2.44% it will be the worst day since Oct 2, 2023 when copper fell -2.57% Month to date, copper is up 13.9%, marking its best month since February 2021, when copper advanced 15.09%.

 

https://www.cnbc.com/2024/04/29/stock-market-today-live-updates.html

 

https://www.marketwatch.com/investing/bond/tmubmusd02y

https://www.cnbc.com/us-markets/

https://tradingeconomics.com/commodities

Anonymous ID: 076e05 April 30, 2024, 11:35 a.m. No.20800412   🗄️.is 🔗kun   >>0420 >>0533 >>0541 >>0606 >>0650 >>0691

>>20800348

SAM688Blinkenarrived at Tel Aviv from Amman, Jordan stop and Riyadh depart prior (WEF Mtg)

Still with that ubiquitous stoopid wave to no one

 

Blinken Says He Will Press Netanyahu on Gaza Aid Measures

 

https://www.msn.com/en-ae/news/other/blinken-says-he-will-press-netanyahu-on-gaza-aid-measures/ar-AA1nWoe2

 

Blinken, Jordanian leaders push for Israel-Hamas cease-fire

https://www.voanews.com/a/blinken-cites-improvement-in-gaza-aid-says-israel-must-do-more-/7589058.html

 

Secretary Blinken’s Meeting with Jordanian Minister of Foreign Affairs Safadi

https://www.state.gov/secretary-blinkens-meeting-with-jordanian-minister-of-foreign-affairs-safadi/

 

Secretary Blinken’s Meeting with UN Senior Humanitarian and Reconstruction Coordinator for Gaza Kaag

https://www.state.gov/secretary-blinkens-meeting-with-un-senior-humanitarian-and-reconstruction-coordinator-for-gaza-kaag-2/

Anonymous ID: 076e05 April 30, 2024, 12:10 p.m. No.20800559   🗄️.is 🔗kun

>>20800137

When it’s not going their way it’s “not expected”

Literally everything they put out is crap.

Higher wages just goes with the entire “higher for longer” interest rate PsyOp.

They’ve admitted this tacitly before along with saying 3% is their “new” 2% for inflation

Both pipe dreams

Rate cuts come when the bond market demands them.

2y over 5% 30 at 4.78% but nope they won’t be doing a reverse Operation Twist /s

FOMC just grocery clerks on all of it