The latest US jobs data and trade talks between the US and China will form a key focus this week as investors are gearing up for a widely expected Federal Reserve interest rate hike next month.
US Treasuries and gold rose, while Wall Street fell, as President Donald Trump cancelled a summit with North Korea’s Kim Jong Un, underpinning concern about geopolitical uncertainty as well as trade talks between the world’s largest economies.
US Treasuries climbed while Wall Street was mixed, giving up some of its earlier declines, as Federal Reserve policy makers signalled the pace of interest rate hikes is unlikely to accelerate soon.
Wall Street fell, having retreated from earlier gains, amid conflicting messages from the Trump administration about trade talks with China and doubt about the summit with North Korea.
Wall Street rallied amid optimism that the US is backing off its recent protectionist stance in an effort to resolve an international trade dispute with China.
A speech by Federal Reserve Chair Jerome Powell as well as the minutes from the latest US central bank meeting will form a key focus for investors trying to gauge how many more interest rate hikes might follow the one they’re expecting next month.
Wall Street weakened as US Treasury yields continued their ascent, while shares of Walmart fell amid concern about declining margins.
Wall Street rose as better-than-expected results from Macy’s lifted its shares as well as those of other retailers and underpinned optimism about consumer spending and the economic outlook.
Dairy product prices rose at the Global Dairy Trade auction, gaining for the second time in the most recent seven events amid better-than-expected gains for anhydrous milkfat and skim milk powder.
US Treasuries dropped, as did Wall Street, as the latest retail sales data underpinned bets the Federal Reserve will hike its target interest rate at its June meeting and might have to step up the pace of interest rate increases.