analysis

Fed Chair Jerome Powell is in no rush to ease monetary policy. “On inflation it is too early to say whether the recent readings represent more than just a bump”, he said at Stanford University on Wednesday. The markets anticipate that the Federal Reserve will start cutting interest rates this year, but the timing and extent of those cuts are murky, given that inflation remains above the preferred target of the central bank of 2%. Cleveland Fed President Loretta Mester — voting members on this year’s key Fed Committee https://tinyurl.com/23sc8lwx

The Dow Jones Industrial Average fell Wednesday for the third day in a row. The Dow Jones Industrial Average ticked down 43.10 points, or 0.11%. Intel lost more than 8% after it posted operating loss in semiconductor manufacturing. The S&P 500 did better, inching higher by 0.11% and its first win of the week. The Nasdaq Composite also positive ended the day, adding 0.23%. In another sign of a resilient economy, ADP released March data showed private

- Major Insider Selling Apple ****$AAPL**** - Today over $50 million of shares sold including $33 million from CEO Tim Cook**

The divergence between key fixed-income benchmarks shows - more specifically - that the US is on a healthier endogenous growth path compared with Europe in early trading - Wednesday - which had reached a level only three times since the start of 2020 - this has risen to nearly 200 basis points in favor of the US, as shown in the chart below - the lowest in the past three years of 90 basis points and just short of the high of 214 basis points. https://tinyurl.com/24osoon9

The Judo Bank Flash Australia Services PMI Business Activity Index rose from 53.1 in February to 54.4 in March and indicated the second consecutive expansion of the services sector and fastest growth since April 2022. However, new export sales declined due to reduced overseas demand, marking the fifth decline in the last six months. Input prices continue to rise due to higher material, fuel and wage costs, but at a slightly slower rate indicating ongoing price pressures.

According to the people who were familiar with the situation, apple engineers are examining a push into personal robotics, a field with the potential to become one of the company's ever-changing “next big things,” they said. The iPhone maker also has developed an advanced table-top home device that uses robotics to manipulate a display around. In February, Apple scrapped an electric vehicle project, and a push into mixed-reality goggles is expected to become a significant moneymaker https://tinyurl.com/25fx6gm8

**The ECB** insists(https://www.bloomberg.com/news/articles/2024-04-04/ long-shadow of the Fed shows-limits-of-ecb-talk-of-independence?srnd=homepage-europe) **it will not follow the Fed's example as it prepares to be the first to cut interest rates, but its future course of policy may well be determined by what happens in the US. https://tinyurl.com/27xd424a

Geography is geography and in different markets in principle the same thing happens; an important indicator of crisis phenomena is the average area of new real estate that begins to slowly but surely drop during the transition from favorable periods to unfavorable ones.

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