Markets, Anticipation Rise Ahead Of Fed Minutes

Markets, Anticipation Rise Ahead Of Fed Minutes

Amid high levels of anticipation, stock-index futures in the US climbed during early activity this morning as investors, traders and analysts awaited the release of minutes from the Fed’s late April policy meetings.



Markets, Anticipation Rise Ahead Of Fed Minutes
Markets, Anticipation Rise Ahead Of Fed Minutes

Amid high levels of anticipation, stock-index futures in the US climbed during early activity this morning as investors, traders and analysts awaited the release of minutes from the Fed’s late April policy meetings.

Slated to be released at 2 p.m. in Washington, the minutes are from the April 29 and 30 meeting when the Federal Open Market Committee opted to taper monthly debt purchases by $10 billion. That marked the fourth consecutive meeting when the body's policy-making arm cut monthly purchases by that figure en route to closing the program by the end of the year, as the Fed said it intends. Janet Yellen, chair of the Fed, said earlier this month that the world's largest economy is recovering, yet slowly, and needs to continue hurtling forward. The minutes are likely to impact other worldwide markets, too. Just after 10 a.m. in New York, the Nasdaq climbed 0.63%, a rise of 25.50 points to 4,121.36; the S&P 500 increased 0.56%, a lift of 10.39 points to 1,883.11; and the Dow rose 0.77%, a climb of 125.31 points to 16,499.62.

Japanese economy continues strengthening
Further impacting global markets, the central bank of Japan, which is the globe's third-biggest economy, is continuing its development, the body's top official has said. Reuters reports the Bank of Japan holds a strong outlook for the economy based on the export and shipment of electronic devices and automobiles. Governor Haruhiko Kuroda said the Pacific Rim nation is en route to comply with the BOJ's 2% price target. While recovering from the Great Recession and in the tail end of mending from the March 2011 earthquake and subsequent tsunami, Japan is also coping with a slowdown prompted by a sales tax increase early last month. The new policy is likely to even out within a few months during the summer.

US devotes attention to China
Jacob Lew, the top US Treasury official has visited China three times since he assumed the position slightly more than one year ago, according to MarketWatch. Lew convened with the premier, the vice premier and many additional officials, demonstrating a growing interest that comes before the US-China Strategic and Economic Dialogue ensues this July in Beijing.

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