Dow futures jumped more than 300 points today, indicating Wall Street will recover tonight. After a heavy plunge last week
As of 7:07 p.m. Thai time, the Dow futures index gained 301 points, or 0.96%, to 31,514 points.
Wall Street stocks are expected to be supported by President Joe. Biden to lift tariffs on Chinese imports
“I’m considering this. We do not impose such tax measures. But it’s the last government,” Biden said.
Dow Jones index fell. Last week, the S&P 500 sank 3.0% and the Nasdaq sank 3.8%, with the Dow falling for an eighth straight week, the first since 1923. The Nasdaq fell for the seventh week, the first since 2001.
Investors will also keep an eye on the earnings report of listed companies by Zoom Video Communications Inc, a video conferencing service provider. It will reveal its operating results today.
Markets are also keeping an eye on the minutes of the Federal Reserve’s (Fed) monetary policy meeting on May 3-4, which will be released on Wednesday. to find the direction of interest rates and balance sheet reductions (Quantitative Tightening : QT) of the Fed
The CME Group’s FedWatch Tool indicates that investors are now 100 percent weighed on the Fed’s rate hike of at least 0.50% at the other two monetary policy meetings, in June and July. After the Fed raised interest rates by 0.50% in May for the first time since May 2000. And it was the biggest interest rate hike in more than 20 years.
At the same time, the Fed plans to reduce the size of the balance sheet. It will start operating from June. The Fed will reduce its balance sheet by $47.5 billion a month. And after three months, the Fed will increase the balance sheet reduction to $95 billion/month.