Following the close, the Dow Jones futures as well as the S&P 500 and Nasdaq futures all decreased. earnings for Delta Air Lines and other economic data are available.
On Wednesday, the stock market boom slowed down as the Federal Reserve predicted that the banking crisis will cause a recession.
A small recession starting later this year was predicted by Fed officials, according to recently released minutes from the March 21–22 meeting. According to the Fed minutes, policymakers anticipated that the bank stress would “wet economic activity, hiring, and inflation.” Members continued to be “very vigilant” about inflation risks, though. Despite some policymakers’ considerations to hold rates stable, they ultimately decided to vote to increase rates by one-quarter point to 4.75% to 5%.
CPI was lower than anticipated before the market opened, with inflation decreasing by a full percentage point.
Early in May, the likelihood of a Fed rate increase marginally decreased to 70%.
After Berkshire Hathaway CEO Warren Buffett expressed his fears about geopolitical tensions, notably in China and Taiwan, China’s markets took a significant fall. Tencent Holdings (TCEHY), JD.com (JD), PDD Holdings (PDD), and Alibaba (baba) all experienced steep declines.
After it was made public that SoftBank intended to sell a sizable portion of its share in the Chinese e-commerce behemoth, BABA stock continued to decline overnight.
The TSLA stock ran into resistance at a crucial level and kept consolidating for the Tesla (TSLA) result the next week.
The following stocks are traded close to prospective entries: Shopify (BUSINESS), Service Now (NOW), Cloud Flare (NETWORK), Crocs (CROX), and Note (MRK).
Early on Thursday morning, Delta Airlines (DAL) releases the results.
