PHILADELPHIA - Federal Reserve Bank of Philadelphia issues Nonmanufacturing Business Outlook Survey for January – 1330 GMT WEDNESDAY, JANUARY 25 BERLIN - German Economy Minister Robert Habeck presents the German government's 2023 annual economic report in Berlin – 1315 GMT VILNIUS - Bank of Lithuania holds non-monetary policy meeting of the ECB Governing Council.
5/4/2021 5:55:15 AM GMT
Market movers today
Another quiet day awaits us with few signals from the data front. Fed s Kaplan and Daly will be on the wires later in the day.
In Denmark, foreign reserve figures for April are released and it will be interesting to see whether Danmarks Nationalbank continued to intervene in the FX market.
The 60 second overview
Macro: Comments from Fed Chairman Powell and New York Federal Reserve governor Williams supported US government bonds, and 10Y yields declined modestly. Powell stated that recovery is patchy , while Williams stated that We still have a long way to go to achieve a robust and full economic recovery even though he is optimistic regarding the economic outlook, while inflation will settle back around 2%.
by Tyler Durden
Tuesday, Mar 16, 2021 - 07:59 AM
Exactly one year ago today, the financial world as we know it was on the verge of collapse, with the Dow Jones plunging to 20,000 after the VIX exploded to a record 82.69.
Fast forward to today, when the market is about 66% higher, and on Tuesday morning futures on both the S&P 500 and the Dow Jones edged higher hitting fresh all time highs -
the Dow notched its sixth consecutive all-time high on Monday on optimism over a $1.9 trillion fiscal stimulus package - for the second day in a row while contracts on the Nasdaq 100 rose about 0.5% by 730 a.m. ET, pointing to an extension of a rebound in technology stocks that were at the heart of February’s selloff. The Nasdaq 100 is still about 5% below its Feb. 12 record closing high. Traders were looking ahead to today s industrial production and retail sales data (which as a reminder, will be a huge miss), while the Federal Reserve was set to kick off its two-day policy meeting.