© Reuters 5 major events in today’s financial market: the outlook for the interest rate path is gradually clear, pay attention to the ISM non-manufacturing PMI
Investing.com – Here are the top 5 things to know in the financial markets for Friday, March 3:
1.the fedOfficials further clarify interest ratepaththe opinion of
Two Fed officials – Governor Chris Waller and Atlanta Fed President Raphael Bostic – said on Thursday they thought the end point was higher than they had previously thought, while market expectations for a high for U.S. rates this cycle were getting closer to 5.5%.
Raphael Bostic said he was in favor of a slow and steady approach to rate hikes rather than a one-time hike of 50 basis points. Chris Waller believes that the terminal interest rate is between 5.1% and 5.4%, but if the economic data continues to be stronger than expected, the terminal interest rate is expected to be raised.
Meanwhile, it was on track for its highest weekly close in more than 15 years.
2.chipCompanies have mixed views on the outlook
Chipmakers Broadcom (NASDAQ: ) and Marvell (NASDAQ: ) offered starkly different views on the outlook for the year ahead in their latest earnings reports.
Broadcom forecast a “soft landing” in the second half of the year as orders remain ample and rapid growth in AI applications will boost chip demand. C3.AI (NYSE: ) is also highly positive on the outlook.
However, shares of Marvell Technologies fell about 9% before the market opened, testing a five-week low, after first-quarter profit forecasts were around 29 cents a share, about 30% below consensus estimates.
3.U.S. stock futures poised to extend gains; watchISMNon-Manufacturing Survey
U.S. stock futures extended Thursday’s rally, boosting hopes for a weekly gain that had been dimmed earlier in the week.
Investing.com’s U.S. stock quotes show that as of 21:11 Hong Kong time (08:11 am Eastern Time), blue-chip stocks rose 62.9 points, or 0.19%, and rose 10.3 points, or about 0.26%, mainly technology stocks The index rose 24.1 points, or 0.20%.
Later, investors also need to pay close attention to the ISM’s release at 23:00 HKT, especially to assess the inflation outlook.
4.AdaniGroup gets reinforcements
U.S. asset manager GQG Partners bought $1.9 billion in shares of Adani Group companies, according to regulatory filings. Rajiv Jain, chairman of GQG Partners, was born in India, the report said.
The move by GQG Partners is the strongest external vote of confidence for Adani Group since it was hit by a short-selling report from Hindenburg Research.
Among them, Adani Enterprises (NS: ) shares surged about 17%, but are still down more than 50% year-to-date. Adani Ports and Special Economic Zone (NS: ) shares rose 10 percent, while Adani Transmission (NS: ) rose 5 percent.
5.Bahmut, an important town in eastern Ukraineor fall
The battle for Bakhmut, a major town in eastern Ukraine, appears to be drawing to a close, according to reports. Russian forces said they had all but surrounded Bakhmut, while Ukrainian authorities admitted that a bridge on the last usable road out of Bakhmut had been destroyed, further weakening Ukrainian defenders.
If Russia gains control of Bakhmut, it will theoretically be easier to resupply its troops in southern Ukraine and increase the battlefield pressure on Ukraine, which will test again the determination of the United States and Europe to continue to support Ukraine.
Recently, it was reported that France and Germany hoped that Ukraine would consider peace talks, but the Ukrainian president and Western countries rejected peace talks in public.
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Compiler: Liu Chuan
