TL;DR
- Both the ADP Jobs Report and US Bureau of Labor Statistics Jobs Report showed much better than expected figures in April
- The Fed raised rates by 0.25 percentage points and suggested the hike cycle may be ending
- While Jay Powell has said there won’t be any rate cuts this year, the futures market disagrees
- First Republic Bank has been taken over by JPMorgan after being closed by the FDIC, but it’s not the only bank working through challenges
- Top weekly and monthly trades
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Major events that could affect your portfolio
There’s been a lot of economic data and announcements to digest this week, the most high-profile of which are the Fed’s latest rates announcement, and both the ADP Jobs Report and U.S. Jobs Report.
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