DailyBubble News
DailyBubble News

News Highlights : Top Global Markets News of the Day – Friday at 7 PM ET

Stocks recorded weekly gains in a strong start to May, marking a turnaround from April.

Consumer sentiment in the U.S. took a hit in May, with the University of Michigan’s gauge dropping to 67.4 from 77.2 in the previous month.

Minneapolis Federal Reserve Bank President Neel Kashkari stated that while the bar for another rate hike is high, further tightening cannot be ruled out.

Chicago Fed’s Goolsbee predicts a continued drop in inflation in 2024, foreseeing a ‘soft landing’ for the U.S. economy.

The Biden administration plans to quadruple tariffs on Chinese electric vehicles and other clean-energy goods made in China.

The U.S. budget deficit decreased in the first seven months of the fiscal year, but is expected to surpass last year’s deficit.

A surge in Canadian employment may delay anticipated rate cuts by the Bank of Canada, according to economists.

The focus for the week ahead will be on U.S. inflation data for April, with attention also on data from the eurozone, U.K., Sweden, and Norway.

Beijing’s new emphasis on addressing a housing glut signals a shift in China’s housing crisis, potentially leading to significant rescue efforts.

The U.K. saw a 0.6% growth in gross domestic product in the first quarter, indicating a recovery from the impact of Russia’s invasion of Ukraine.

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