Major shares across the globe were mostly in the red yesterday as economists digested a flurry of economic data from the US and as the Federal Reserve (Fed) kicked off its two-day policy meeting.
On Tuesday, data revealed US job openings fell to 9.6 million in March – the lowest level since April 2021. This was considerably below the market’s expectations of 9.775 million.
We also heard that Eurozone inflation increased slightly to 7% in April, as did Italian inflation which came in above market expectations at 8.3% for April.
UK bank HSBC ruled out banking crisis as its profits tripled in the first three months of this year following its rescue of Silicon Valley Bank UK.
Amid waves of business closures and layoffs, global news publisher, Vice, whose assets include Vice News and Refinery29, has been involved in talks with multiple companies in attempt to avoid filing for bankruptcy. The company has been seeking a sale at a price tag of around €1.5 bn.
This morning, market watchers will receive the latest unemployment rate for the Euro Area, which is expected to remain unchanged this month at 6.6%.
This afternoon is to be dominated by potentially market-moving US data. The ISM Services PMI is expected to fall for the third consecutive month to 51.2, from 51.5 in March.
The Fed’s interest rate decision is due at 7pm (UK time) and economists expect the rate to rise by 25 basis points to 5.25%.
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