Summary of the Latest Session The latest session in financial markets provided a mixed bag of outcomes, with significant implications for the trajectory of monetary policy and investor sentiment. Weekly perf Index Federal Reserve Bank of Minneapolis President Neel Kashkari emphasized that the central bank is in a strong position to take its time and closely monitor incoming data before deciding on interest rate cuts. Fed policymakers have lowered their projections for rate cuts this year to one, down from the three projected in March. Kashkari suggested that if a rate cut occurs, it would likely be towards the end of 2024. Globally, the shift away from dovish monetary policy has impacted emerging-market bonds, with local-currency debt trailing dollar-denominated peers due to resurgent infl

Last FOMC Meeting Summary The highly anticipated Federal Open Market Committee (FOMC) meeting on June 14, 2024, concluded with a unanimous decision to maintain the federal funds rate within the target range of 5.25% to 5.5%. However, the Committee's updated economic projections, unveiled through the Summary of Economic Projections (SEP), painted a nuanced picture of the central bank's policy outlook. The Fed’s New Dot Plot After Its May Policy Meeting: Chart Dot Plot Contrary to the market's expectations of three quarter-point rate cuts this year, the FOMC's median projection now envisions a solitary rate reduction in 2024. This hawkish shift, coupled with upward revisions to inflation forecasts, initially sent shockwaves through the markets, causing bond yields to spike and temporarily d

Summary of Yesterday's Session Yesterday's session demonstrated notable resilience in financial markets despite global economic uncertainties. The $S&P 500(.SPX)$ and $NASDAQ(.IXIC)$ both reached record levels, rising by 0.3%. The $DJIA(.DJI)$ also increased by 0.2%. Defensive sectors such as utilities and healthcare were favored by investors seeking to shield themselves from volatility. $Apple(AAPL)$ , however, saw a 1.9% decline in its stock despite announcing its artificial intelligence (AI) ambitions at the 2024 Worldwide Developers Conference. The company unveiled new software features under the banner "Apple

Summary of the Latest Trading Session Stocks faced a broad decline as rising bond yields put significant pressure on risk assets. The Dow Jones Industrial Average fell 1.1%, the $S&P 500(.SPX)$ slipped 0.7%, and the $NASDAQ(.IXIC)$ dropped 0.6%, though it remains near record highs. Bond yields surged, with the 2-year Treasury note jumping to 4.983% and the 10-year yield climbing to 4.623%. Rates Key Events Driving the Session Economic Data Releases: The day was marked by significant economic data, including a hot consumer confidence report that sparked concerns about inflation. Investors are also anticipating upcoming growth data from the US. Federal Reserve Comments : Fed President Raphael Bostic

This week saw financial markets react strongly to the release of the Federal Reserve's minutes and unexpectedly robust U.S. economic data. Traders, having recently driven the markets to record highs, took the opportunity for profit-taking amidst concerns that the Fed might delay monetary easing. Volatility is anticipated to persist as markets await further data on inflation and economic activity. Market Performance and Key Highlights Nvidia (+12%) $NVDA - $NVIDIA Corp(NVDA)$ continues its stellar performance, buoyed by the demand for its data center products. - Reported $26 billion in Q1 revenues and $14.9 billion in profits, a 628% year-on-year increase. - Stock has surged 116% since January, recently crossing the $1,000 mark. Energy Sector

Market Records and Inflation Data The $S&P 500(.SPX)$ soared to a new record, spurred by indications of cooling inflation. The consumer price index (CPI) for April rose by 3.4% year-over-year, a slight decrease from March's 3.5%. Core prices for goods declined by 0.1%, while core services prices increased by 0.4%, the weakest gain since December. This favorable inflation report triggered a rally in both stocks and Treasuries, with the 10-year Treasury yield falling to its lowest level since early April. SPX ATH Consumer Spending and Retail Sales:* Retail sales for April remained flat compared to the previous month, falling below economists' expectations of a 0.4% gain. The subdued retail sales data was perceived positively by investors, as i