Ball Corp ( BALL) saw its shares bid up 7.23% after the company announced it is exploring separating its aerospace business from its aluminum can manufacturing operations in a spinoff. The Dow fell 0.32%, the S&P 500 declined 0.37%, the Nasdaq Composite gave back 0.68% and the Russell 2000 closed 0.73% lower. Remaining sectors were lower but only by 0.21% or less. However, even as both sides looked for ways to rebuild ties, they also sought to show they are not compromising on core issues.įriday saw markets trade off slightly on some profit-taking from Technology (-0.82%) and Communication Services (-0.83%) and defensive repositioning as Consumer Staples (0.12%), Materials (0.25%), and Utilities (0.54%) were the only sectors to posts gains prior to the long weekend. and China do not want their relationship to be defined by open hostility. Secretary of State Antony Blinken met with Xi Jinping, China’s leader, on Monday in Beijing, sending a signal, at least for now, that the U.S. health expenditures accounted for ~17% of the economy vs. That compares to $4.4 trillion in 2022 when the U.S. reaching $7.2 trillion in 2031, making up about 20% of the total economy.
In its annual spending report, the Office of the Actuary at the Centers for Medicare and Medicaid Services sees annual healthcare expenditures in the U.S. The five-year LPR, which is a reference rate for mortgages, was also cut from 4.3% to 4.2%.Īt 8:30 AM ET, May Housing Starts and Building Permits data will be released, and both are expected to be little changed compared to the respective April figures. The one-year loan prime rate (LPR) on which most new and outstanding loans are based was cut from 3.65% to 3.55% according to the People’s Bank of China. While China has cut its key one-year and five-year loan prime rates by 10 basis points each, the first cut since August, the concern is those moves alone may not be enough to prop up China’s weakening economy.
Industrial Production in Japan decreased 0.7% YoY in April, modestly better than the 0.8% decline posted the previous month. As they parse those comments and digest any guidance revisions, they will be assessing prospects for the upcoming June quarter earnings season and potential guidance for the second half of the year. economy.Īnd while we have a quiet earnings week, investors will be dialing into company comments made during the last few investor conferences before the quarter’s end.
Ahead of that, we have a few Fed officials making the rounds today, likely setting the tone Powell will aim to strike when discussing the potential for additional policy action to tame inflation vs. House Financial Affairs Committee on Wednesday and the Senate Banking Committee on Thursday. futures point to a lower open.įresh off the Fed’s policy meeting that signaled the central bank may deliver two more rate hikes this year, Federal Reserve Chair Jerome Powell will deliver his semi-annual monetary policy testimony to the U.S. European markets are down pretty much across the board in midday trading and U.S. Hong Kong’s Hang Seng closed 1.54% lower on a broad decline led by Health Technology names as Utilities showed the only sector gains in that market. South Korea’s KOSPI declined 0.18%, China’s Shanghai Composite fell 0.47%, and Taiwan’s TAIEX gave back 0.52%. Asia-Pacific equity markets finished the day mixed: Australia’s ASX All Ordinaries advanced 0.79%, India’s SENSEX rose 0.25%, and Japan’s Nikkei closed close to flat, eking out a 0.06% gain.
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