Global access to quality medicines is key for the future
And so, after a day in which all three big U.S. market indexes were mostly flat, premarket trading in New York is…mostly flat. Though perhaps investors are right to take a break: Fed Chair Powell’s comments and the FOMC’s statement were pretty much what was expected—the Fed could dial back its aggressive bond-buying program later this year, but not yet.
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It can be hard to get investors excited in July. Seems like killer earnings, a breakthrough in infrastructure talks, and the Fed still buying good debt after bad are still not enough to get them into a buying mood.
As Deutsche Bank’s research team put it, “In spite of being the most anticipated event of the week, the Federal Reserve’s latest policy decision proved to be a much tamer event than the last meeting as far as markets were concerned.”
Facebook’s warning that Apple’s new privacy rules could hurt its targeted ads business, and talk that Softbank will unload a chunk of Uber, also haven’t helped investor enthusiasm either this morning, even in light of news that the Senate will move forward on Biden’s Very Big Infrastructure Bill. Plus, investors have another massive day of earnings to get through (Hello, Amazon). Pause. Breathe.
Europe’s markets are a different story, however, with bourses across the continent rising, albeit in a subtle, orderly, Old World way. Shell’s earnings announcement this morning, which included news that it will raise dividends by nearly 40% and spend $2 billion on buybacks amid soaring oil prices, did not hurt.
Asian markets bounced back after days of investor punishment, aided by a Bloomberg report that noted China’s securities regulator, uncomfortable with the recent selloff, had held a call with executives from major investment banks to signal the crackdown on private education wasn’t intended to hurt other sectors.
The regulator, China Securities R
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