![]() The central bank’s benchmark rate currently stands at 3.75 per cent to 4 per cent, up from close to zero in March. ![]() Investors have a busier week ahead as they continue monitoring the hottest inflation in decades and its impact on consumers, business and monetary policy.Īnxiety remains high over the ability of the Federal Reserve to tame inflation by raising interest rates without going too far and causing a recession. Wall Street is coming off of a holiday-shortened week that was relatively light on corporate news and economic data. Cryptocurrency exchange Coinbase Global fell 3.5 per cent and the price of Bitcoin slipped 1.1 per cent. Cryptocurrency lender BlockFi is filing for Chapter 11 bankruptcy protection. The fallout from the collapse of crypto exchange FTX continued. Las Vegas Sands rose 0.7 per cent and Wynn Resorts gained 3.2 per cent. ![]() Several casino operators gained ground as the Chinese gambling haven of Macao tentatively renewed their licenses. Apple, which has seen iPhone production hit hard by lockdowns in China, fell 2.1 per cent. ![]() Technology companies were the biggest weights on the broader market. The yield on the 10-year Treasury rose to 3.70 per cent from 3.69 per cent on Friday. ![]()
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