Futures higher, Fed speakers this week - what's moving markets
Investing.com -- U.S. stock futures point higher to begin the new trading week as many investors bring forward their projections for Federal Reserve interest rate cuts this year following softer-than-anticipated April employment data. Fed speakers in the coming days are expected to provide more clues into the outlook for borrowing costs in the U.S. Meanwhile, WaltU.S.
On Monday, New York Fed President John Williams and Richmond Fed President Thomas Barkin are both set to speak, followed by Minneapolis Fed President Neel Kashkari a day later. Chicago Fed President Austan Goolsbee and Fed Governor Michelle will make appearances later this week as well. Small cap stocks have lagged broader market gains this year. The prospect of the Fed keeping rates elevated for a longer period has clouded the outlook for smaller companies, which rely more heavily on debt financing and consumer spending.China’s services sector eased slightly in April but remained at a relatively steady pace, a private survey showed on Monday, as new business activity grew and export demand improved from last year’s lows.
“The recovery of the global economy has resulted in an increase in inbound tourist numbers. This has helped produce an upward trend in service exports,” Wang Zhe, Senior Economist at Caixin Insight Group said in a note.Oil prices rose in European trade on Monday after Saudi Arabia increased its official selling price for crude in June for most regions.
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