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Markets shrug off Fed warnings, ahead of all-important Nonfarm Payrolls

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Here is what you need to know on Friday, May 7:

The market mood is upbeat despite Fed warnings about financial risks and ongoing US-China tensions. Nonfarm Payrolls are set to show an increase of around one million jobs. 

The Federal Reserve warned that covid still poses a major financial risk and that prices are vulnerable to significant declines. Stocks advance on Thursday as most Fed officials continued saying the US economy has a long way to go. Robert Kaplan, President of the Dallas Fed, stood out by urging a discussion about tapering bond-buying. 

The US dollar has been edging lower as 10-year Treasury yields remain in low ground under 1.60%. Supply chain strains and skills shortage issues are pushing prices higher but also cooling the economy. 

President Joe Biden is set to maintain bans on Chinese investment slapped by the previous administration, adding to tensions. In the meantime, Beijing reported…

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