Financial Markets Daily Report04 June 2021
The ADP National Employment Report showed private payrolls increased by 978,000 jobs, the biggest increase since June last year. Additional figures of the services sector showed signs of economic improvement. On the other hand, President Joe Biden may be open to hike the corporate tax rate below 28%.
- The ADP National Employment Report showed private payrolls increased by 978,000 jobs, the biggest increase since June last year. Additional figures of the services sector showed signs of economic improvement. On the other hand, President Joe Biden may be open to hike the corporate tax rate below 28%.
- U.S. equities fell Thursday as investors balanced concerns about inflation and the Federal Reserve reining in stimulus with relief about corporate tax hikes. European equities closed little changed near a record high.
- The US dollar strengthened and Treasuries edged down despite Federal Reserve Bank of Philadelphia President Patrick Harker said officials should begin discussing the time frame for paring back the bond-buying program. Commodities, including gold and copper, were lower.
- Today, the focus will be on May’s U.S. employment report, U.S. factory orders and retail sales in euro area.