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The number of initial unemployment claims in the USA slightly decreased to 0.22 million, below expectations.
As of the week ending March 8, the number of initial jobless claims decreased by 2,000 to 0.22 million. A survey of economists indicated that the median forecast for initial jobless claims was 0.225 million.
JPMorgan: The recent decline in U.S. stocks has "reached its point," and a steady recovery is highly likely moving forward.
JPMorgan pointed out that the crowded trades of Hedge Funds experienced a significant decline over the past month, nearing the worst levels of the past few years, indicating that much of the market adjustment may have been completed. Although the overall leverage ratio remains high, it has begun to gradually decrease. JPMorgan believes that the most ideal scenario for the market is a steady recovery, with volatility gradually decreasing, thereby providing more room for risk adjustment.
Signs of recession? From daily necessities to luxury goods, consumer spending in the USA is weak across the board.
Faced with ongoing tariff pressures, stubborn inflation, and new concerns about economic recession, American consumers are tightening their wallets comprehensively. Retailers like Target, Foot Locker, and Lowe’s reported weak demand in February; 'affluent customers shopping at Macy’s are also feeling uncertain, confused, and worried about what is happening.'
Inflation easing cannot counter worries about growth! The three major U.S. stock index futures fell, and the dollar strengthened.
Equity Index futures in the USA and Europe all declined, with S&P 500 Index futures falling by 0.41%, NASDAQ 100 Index futures dropping by 0.64%, and Dow Jones Industrial Average futures decreasing by 0.25%. European Stoxx 50 Index futures fell by 0.1%.
Is there a sudden change in the Federal Reserve's senior management? It is reported that Trump intends to promote Bowman to regain control over Banks regulation.
① Trump is expected to nominate Federal Reserve Governor Michelle Bowman as the vice chair responsible for regulatory affairs as early as Wednesday; ② Bowman and Waller are officials who took office during Trump's first term and oppose "increasing capital requirements for large banks."
OPEC+ crude oil production surged in February, maintaining strong demand growth expectations.
In February, OPEC+ (OPEC and its allies) significantly increased Crude Oil Product production.