Wall Street sees mixed trend as Intel drops 7%

Financial reviews cover a wide range of financial information, including current reports, trends, indices, stock prices, bonds, foreign exchange, commodities, and analyst recommendations. On Wall Street at 16:30, there were slight declines with the Nasdaq down 0.4%, the S&P 500 off 0.1%, and the Dow Jones trading around base levels.

In an interview with CNBC, Rafael Bostic, president of the Atlanta Fed, expressed his belief that interest rate cuts in the US should begin later this year. He cited factors such as strong growth in the American economy, recovery in supply chains and a strong labor market as leading to a decrease in inflation. According to Bostic, the Fed’s first interest rate cut may not occur until the end of 2024.

In recent employment data from the private sector in the US saw an increase of about 185 thousand jobs compared to February. Additionally, worker’s wages increased by 5.1% on an annual basis. Meanwhile Gilat reported an order of more than $5 million from the US Department of Defense among other recent orders totaling $30 million in various areas.

European inflation decreased to 2.4% in March below expectations with core inflation falling from 3.1% to 2.9%. European and Asian stock markets were mixed with slight declines reported in some indices. Gold reached record highs prompting speculation that silver prices may also rise significantly due to increased demand for metal in solar panels.

Companies such as Intel reporting an operational loss in its production division and Disney shareholders voting on board changes were among updates on various companies while Tesla reported a decline in car deliveries during Q1 . In commodities oil prices surged to six-month highs due to supply disruptions and geopolitical tensions

By Sophia Gonzalez

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