Stocks Retreat After Fed Minutes Show Uncertainty Over Inflation
Investors also digested earnings from chip maker Nvidia and home builder Toll Brothers.
Fed Officials Saw Longer Wait for Rate Cuts After Inflation Setbacks
Minutes of their last meeting revealed some officials were open to raising rates if inflation reaccelerated.
Some Fed Officials Disagreed With Balance-Sheet Plans, Minutes Show
Federal Reserve officials were not in lock-step on plans to start reducing the central bank's balance-sheet runoff.
Bank of Korea Holds Rate Steady, Raises Growth Forecast
South Korea's central bank held its base rate steady as widely expected and raised its 2024 economic growth forecast, signaling a delay in its pivot toward policy easing.
Singapore's Economy Grew at Faster Pace in First Quarter
Growth in sectors such as construction, wholesale trade, and retail trade overcame contraction in the manufacturing sector.
U.S. Crude Oil Stockpiles Rose Last Week
U.S. crude oil inventories rose by 1.8 million barrels last week and gasoline stocks fell, while refineries stepped up their capacity use for a third consecutive week
Home Sales Fell Again in April After High Mortgage Rates Damped Activity
Sales of previously owned homes decreased 1.9% from the prior month to a seasonally adjusted annual rate of 4.14 million.
30-year mortgage rate drops to a seven-week low
Mortgage rates fell for the third week in a row, boosting refinancing activity.
Indonesia's Central Bank Stands Pat
Bank Indonesia stood pat at its May policy meeting, a widely expected decision as policymakers keep an eye on rupiah stability and inflation against an uncertain backdrop.
Gold's Latest Allure? It's Sanctions-Proof
Buying from central banks, particularly from China, can keep the gold rally going even if anxious individual investors don't jump in.
(END) Dow Jones Newswires
05-23-24 0315ET
