After a jam-packed week of earnings, bank drama and mixed inflation data, Wall Street doesn’t have time for a breather just yet.
A slate of economic events and data are on deck for next week. In the spotlight are the Federal Reserve’s May meeting and the April jobs report. What’s expected from the Fed? Analysts expect the central bank to raise rates by a quarter point on Wednesday, and will look for guidance about the Fed’s plans for the rest of the year. Inflation data has been mixed in recent days. The Personal Consumption Expenditures price index, the Fed’s favorite inflation gauge, rose 4.
releases its review of Signature Bank failure Signature Bank failed due to “poor management,” the Federal Deposit Insurance Corporation said in a widely anticipated report released Friday. The government agency said that contagion effects from Silicon Valley Bank’s collapse and crypto-friendly lender Silvergate Bank’s self-liquidation was not the cause for Signature Bank’s failure, though it did help fuel a run on deposits.
, said on a call with reporters Friday. “Even though they were crypto cash deposits, it was a traditional kind of bank run.” The also admitted that it didn’t provide Signature Bank with adequate and timely reviews prior to the bank failures, citing staffing shortages between 2017 and 2023 at the government agency. Read more here. Up next Monday: April ISM manufacturing Tuesday: March JOLTS report. Earnings reports from Pfizer , Advanced Micro Devices , Starbucks , Uber and Ford . Wednesday: Federal Reserve interest rate decision, Chairman Jerome Powell’s press conference and April ADP private payroll report.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall St climbs as strong earnings offset slowdown worries, Fed meeting in focusU.S. stock indexes advanced on Friday after strong earnings updates from Exxon and Intel offset worries over Amazon's slowdown warning, while economic data reinforced expectations that the Federal Reserve would hike interest rates next week.
Read more »
Wall St climbs as strong earnings offset slowdown worries, Fed meeting in focus By Reuters⚠️BREAKING: *U.S. STOCKS RALLY ON FRIDAY TO CAP WINNING WEEK AS AMAZON SINKS AND FIRST REPUBLIC COLLAPSES $DIA $SPY $QQQ $IWM $VIX 🇺🇸🇺🇸
Read more »
Wall St ends higher, posts weekly, monthly gains on solid earnings, Fed pause hopes By Reuters*WALL ST ENDS HIGHER, POSTS WEEKLY, MONTHLY GAINS ON SOLID EARNINGS, FED PAUSE HOPES $DIA $SPY $QQQ 🇺🇸🇺🇸
Read more »
Stock Market Today: Wall Street Rises to Cap a Winning AprilWall Street closed out a winning April with gains Friday as more companies say their profits at the start of the year weren’t as bad as expected.
Read more »
Supreme Court's Alito says abortion leak meant to intimidate court, Wall Street Journal reportsU.S. Supreme Court Justice Samuel Alito believes the leak last May of a draft opinion that ended the nationwide right to abortion was meant to 'intimidate' the court into changing its decision, the conservative justice told the Wall Street Journal.
Read more »
Wall Street worries GM will face a tougher 2023 than the automaker is letting onAnalysts say eroding pricing power, labor concerns and challenges in producing EVs will make it harder for GM to perform at the same profitability levels.
Read more »