1. Wall Street looks stable after two days of sales according to the Fed
Traders work on the New York Stock Exchange (NYSE) in New York, March 29, 2022. Brendan McDermid Reuters US stocks remained relatively stable on Thursday as Wall Street tried to avoid a three-day losing streak. The Nasdaq has led sales for the past two days as the US Federal Reserve began to take a more aggressive tone – sinking 2.2% on Wednesday, a day after falling about 2.3%.
After several Fed officials called for more aggressive tightening in the fight against inflation, the minutes of the central bank meeting in March showed a general agreement to reduce its huge balance sheet by $ 95 billion a month. Minutes also showed that Fed officials were looking at higher-than-usual rate hikes of 50 basis points after a 25 basis point increase last month, the first increase in more than three years.
2. The difference in the yield on the basic bond remains inverted after the data on unemployment benefits
Historically, these upheavals occurred before the economic downturn. With the job market strong, the Fed may have room to slow the economy to fight inflation – putting the needle in its dual mandate to boost maximum employment and control prices. The central bank is expected to raise interest rates in all six remaining meetings this year. The magnitude of these increases is the real question.
3. Warren Buffett’s Berkshire Hathaway reveals a large stake in HP
Warren Buffett at the Berkshire Hathaway Annual Meeting in Los Angeles, California. May 1, 2021. Gerard Miller | CNBC Warren Buffett’s Berkshire Hathaway started a significant stake in HP Inc. technology hardware, becoming the largest shareholder in the PC and printer maker. Berkshire bought nearly 121 million shares of HP, or about 11 percent, according to securities filings, a stake worth about $ 4.2 billion based on HP’s closing price on Wednesday. This is before a 15% rise in HP shares in the premarket on Thursday after the news, which rang hours after the closing bell. Berkshire has become more active in recent months, announcing a deal to buy insurance company Alleghany for $ 11.6 billion and acquire a stake in energy company Occidental Petroleum.
4. Shell announces write-off of assets up to $ 5 billion after leaving Russia
Royal Dutch Shell products in Torzhok, Russia. Andrei Rudakov Bloomberg | Getty Images Shell said on Thursday it would write off between $ 4 billion and $ 5 billion after it withdrew from Russia. The announcement provides a first look at the possible financial implications for Western oil giants that have left Russia following Moscow’s unprovoked invasion of Ukraine. More details on the impact of ongoing developments in Ukraine will be provided in Shell’s first-quarter earnings report on May 5, the company said. Shell previously estimated that the losses in Russia would reach $ 3.4 billion. Last month, Shell was forced to apologize for buying a discounted Russian oil and then announced its withdrawal from Russia.
5. Ukraine demands more weapons from NATO as Russia prepares for eastern offensive
A funeral procession is looking at the bodies of civilians, collected from the streets to the local cemetery, as Russia’s attack on Ukraine continues, in the city of Bucha, outside Kyiv, Ukraine, on April 6, 2022. Stringer | Reuters Ukraine on Thursday called on NATO for more weapons in its fight against Russia to help prevent further atrocities such as those reported in Bucha, just outside Kyiv. Western countries supplied portable anti-tank and anti-aircraft weapons to Ukraine, but were reluctant to supply aircraft, tanks or any other equipment that would require training in use.
Russian forces, who failed to quickly occupy the Ukrainian capital, are regrouping for an attack in eastern Ukraine, where Moscow initially recognized the Luhansk and Donetsk regions as independent states.
– CNBC reporters Yun Li, Jeff Cox, Samantha Subin, Hannah Miao, Jesse Pound, Elliot Smith and Silvia Amaro, as well as the Associated Press, contributed to this report. – Join the CNBC Investing Club now to follow every Jim Cramer stock move. Follow the broader market action as a professional on CNBC Pro.
