July 16, 2024

IPO News

Tech Slump & Inflation Data Take Center Stage in Nasdaq

It was a mixed day for the US tech stock market, with the S&P 500 remaining unchanged, the Dow Jones Industrial Average rising 0.3%, and the Nasdaq composite declining 0.4%. The yield on ten-year bonds issued by governments increased to 3.428%, whereas the yield on 2-year notes grew to 4.033%. The focus of the week will be on inflation figures due and the commencement of earnings season. According to economists surveyed by Bloomberg, consumer prices will rise by 0.3% from February’s numbers, bringing the annual inflation rate to 5.2%. According to OANDA analyst Edward Moya, it could reveal that the US buyer is no longer resilient and is relatively weak.

As per the stock news today, global policymakers assembled in Washington for the spring meetings of the IMF and World Bank, with the IMF warning of a slowdown in global development due to the banking sector’s vulnerability. This year, the IMF forecasts that the global economy will expand by 2.8%, slightly less than its January projection of 2.9%. Wednesday is also the date for the Bank of Canada’s policy decision, and investors expect that rates will remain unchanged. Prominent banks, including Wells Fargo, BlackRock, JPMorgan, and Citi, will report their earnings for the first quarter.


Some analysts believe the recent tech rally is nearing overbought territory, as tech equities have recently made a sharp turnaround from the previous year. In March, the optimism of small business owners fell below the 49-year average due to inflation, stricter credit conditions, and problems locating workers. John Williams, president of the New York Fed, stated that the Federal Reserve has its work cut out for it in bringing inflation down to its target of 2% amidst a robust labour market and persistent price pressure.

You can find latest fintech news, insightful analysis of the financial sector, and the latest events in the fintech world at our website.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *