U.S. stock markets are closed today (30 May) for Memorial Day, with markets reopening for trading on Tuesday, May 31.
For trading conditions throughout the last week. The Dow was up 6.2 percent, while the S&P500 was up 6.6 percent and the Nasdaq was up 6.8 percent, helped by minutes from the Federal Reserve’s May meeting that matched market expectations. The report states that The Fed will raise interest rates by 0.50% in both June and July. and may delay the interest rate hike at the end of the year If the inflation rate decreases
In addition, last week’s trading conditions were also supported by data indicating that US inflation has reached its highest level. This will allow the Fed to slow its interest rate hikes to keep the economy from entering a recession. The general personal consumption expenditure (PCE) index, which includes food and energy, rose 6.3 percent in April. Year-on-year, slowing following hitting 6.6 percent in March, the highest level in 40 years.
Investors eyeing US labor data this week. Thursday will release May private payroll figures from the ADP and weekly unemployment claims from the US Department of Labor. part on friday The US Department of Labor will release the number of non-farm payrolls for May.
Meanwhile, investors are waiting to see the Fed’s summary of economic conditions, or the Beige Book, on Wednesday, US time. or in the early morning of Thursday in Thai time
