No surprises for Wall Road from Powell

China blames U.S. for tense ties
China’s high diplomat blamed the U.S. for bilateral tensions and bolstered Beijing’s backing for a peaceable finish to the Israel-Hamas battle. China’s Overseas Minister Wang Yi stated America has been devising “new methods to suppress China,” arguing that U.S. accusations had reached an “unbelievable diploma.”

India’s embattled startups
India’s as soon as priceless startups Byju and Paytm are entangled in a monetary and regulatory disaster, which has dealt a extreme blow to the nation’s booming tech sector. Funding for Indian startups dropped 83% to $7 billion in 2023, from a document $41.6 billion in 2021, knowledge confirmed amid a bigger international enterprise funding pullback.

Powell reiterates stance
Powell repeated that the central financial institution is not prepared to begin decreasing rates of interest, in ready remarks for his first day of testimony on Capitol Hill. His remarks broke no new floor on financial coverage, however highlighted officers have been nonetheless involved about not shedding the progress made in opposition to inflation. 

[PRO] India’s promising ETFs
Tapping India’s promising market is not as easy for overseas buyers as shopping for shares listed on the Indian inventory exchanges. Portfolio managers spotlight one of many easiest routes is thru ETFs that particularly observe indexes comprised of Indian shares.

No information is, maybe, excellent news so far as Wall Road is anxious.

Fed Chair Jerome Powell caught intently to script within the first of two Capitol Hill appearances this week.

“Lowering coverage restraint too quickly or an excessive amount of may end in a reversal of progress we now have seen in inflation and in the end require even tighter coverage,” Powell stated. “On the similar time, lowering coverage restraint too late or too little may unduly weaken financial exercise and employment.”

Buyers are maintaining an in depth watch on the Fed chief’s feedback to get extra readability on the central financial institution’s timing for fee cuts. 

“The ready recreation continues. All the things else within the written testimony is boilerplate about progress on inflation over the previous 12 months and the power of the labor market,” wrote Ian Shepherdson chairman and chief economist at Pantheon Macroeconomics. “In brief, no surprises, no information.”