© Reuters 5 major events in today’s financial market: Focus on the nomination of the Fed’s new vice chairman and the intensive release of economic data
Investing.com – Here are the top 5 things to know in the financial markets for Thursday, February 16:
1. whitepalaceTestconsidernominate chicagothe fedChairman GuyouSpeebearRen Meithe fedvice chairman
According to reports, US President Biden announced on Tuesday that he will appoint current Federal Reserve Vice Chairman Lael Brainard (Lael Brainard) as director of the White House National Economic Council (NEC). That means that with Brainard leaving the U.S. central bank next week, the Fed vice chair will be left vacant.
The report also said the White House is considering nominating Austan Goolsbee, who became the head of the Chicago Fed last month, as vice chairman of the Fed’s board of governors. Goolsbee, 53, was a senior economic adviser to former U.S. President Barack Obama and was an economics professor at the University of Chicago’s Booth School of Business before being named president of the Chicago Fed this year.
On the other hand, a number of Fed officials will deliver speeches during the day, including, , and .
At present, interest rates may be raised until June, and interest rates may not be lowered within this year.
2.U.S. stock index futures fell slightly, financial reports continued to affect market nerves
U.S. stock futures fell slightly as investors awaited a slew of economic data and earnings due later.
Investing.com’s U.S. stock market shows that as of 20:48 Hong Kong time (07:45 a.m. Eastern Time), blue-chip stocks fell 62.5 points, or 0.18%, down 10.8 points, or about 0.26%, mainly technology stocks It fell 43.9 points, or 0.35%.
During the day, companies such as Applied Materials (NASDAQ: ), Hasbro Inc (NASDAQ: ), Paramount Global (NASDAQ: ), DoorDash (NYSE: ) and DraftKings (NASDAQ: ) will report earnings.
3.U.S.A large number of economic data will be released intensively
During the day, the United States released a lot of economic data, including those assessing the state of the labor market, assessing the outlook for inflation, and .
Earlier, U.S. growth hit its fastest pace in two years, boosting confidence in the U.S. economy and supporting continued policy tightening.
However, good data also increases the possibility of a soft landing for the U.S. economy. However, stable and low risks lead to the coexistence of high inflation and high interest rates.
4.ECB President:3moonWillhike50idea
Another half-point hike next month.
Speaking to the European Parliament in Strasbourg, President Christine Lagarde made it clear that a 0.5 percent rate hike would be on the cards, noting that price pressures remain strong and the underlyinginflation rateStill high. However, Lagarde also said that the next path of interest rates was still unclear.
Some hawkish ECB officials said the March hike was unlikely to be the last. However, Lagarde argued that after next month’s rate hike, policymakers “need to assess the next path of our monetary policy” and that any future decisions are likely to depend on the data.
However, another ECB official, Pablo Hernández de Cos, said that the rate of decline may be faster than previously expected, while ECB executive member Fabio Panetta believes that the economy has not yet fully felt the impact of the previous consecutive 300 bps of interest rate hikes.
5.Oil prices stabilize
Crude oil prices stabilized as fresh signs of recovery in energy demand in China boosted investor sentiment. Previously, the Civil Aviation Administration of China stated that China’s civil aviation transportation production in January showed a rapid recovery trend, and the scale of civil aviation passenger transportation rebounded rapidly. The passenger transportation volume was 39.775 million, a year-on-year increase of 34.8%, and the passenger transportation volume recovered to 74.5% of the same period in 2019.
Earlier, the International Energy Agency (IEA) also raised its oil demand forecast for this year by 100,000 barrels per day, with China expected to contribute half of the new demand.
However, a recent surge in U.S. inventories has dampened the market. The data showed that inventories surged by 16.3 million barrels last week to 471.4 million barrels, the highest since June 2021.
As of 20:48 Hong Kong time (07:48 am Eastern Time), Investing.com Commodity Markets showed: up 0.09 to $78.66/barrel; up 0.01% to $85.39/barrel.
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Compiler: Liu Chuan
