The latest edition of our finance and property news digest with a distinctively Australian flavour.
Wall Street ended little changed on Friday after a volatile session in which investors tried to comprehend how a robust jobs report would influence the U.S. Federal Reserve and its plans to aggressively hike interest rates.
“I’m calling this period right now a recession obsession,” BMO Capital Markets Corp. chief investment strategist Brian Belski said .“Institutional investors are not positioned for any kind of upside move. That’s why you are seeing these sharp moves on a day like today and certainly over the last few days in terms of a short squeeze. We remain positive and think people are way too negative.”
Atlanta Fed President Raphael Bostic, until recently among the central bank’s most dovish policymakers, said on Friday he “fully” supports another 75-basis-point rate rise later this month.
Speaking later on Friday, New York Federal Reserve President John Williams did not specify if he favors a half point or three-quarter point increase at the Fed’s upcoming July meeting, but acknowledged rising interest rates were affecting the economy.
[Content]
0:00 Start
0:15 Introduction
0:27 Recession Obsession
1:35 US Non Farm Payrolls
4:45 US Markets
10:15 Gold
10:35 European Markets
12:00 Oil
12:40 Asian Markets
14:20 Australian Markets
16:15 May Trade Surplus
18:30 Market Trends
21:25 Crypto
22:15 DXY
22:35 Summary and Close
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