Azerbaijan oil production
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This report comes from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open keeps investors updated on everything they need to know, no matter where they are. Like what you see?You can subscribe here.
What you need to know today
Employment report preview
Economists expect U.S. nonfarm payrolls to be 200,000 in March, due on Friday morning, according to the Dow Jones consensus forecast. That would be down from the initial 275,000 in February but still points to a solid pace of hiring. Investors will likely look to any other information that suggests fundamental weakness in the labor market for clues on whether the Fed will delay a rate cut.
The reality of electric vehicles
Ford In the latest adjustment to its electric vehicle plan, the production of a new all-electric large SUV and another pickup truck code-named “T3” has been postponed. While production costs remain high, the auto industry faces slowing consumer adoption of electric vehicles.
Trust Zuckerberg
Yuan The stock surged to a new intraday high on Thursday, outperforming the broader market, after analysts at Jefferies and RBC Capital raised their price targets. Jefferies analysts wrote in a report: “Meta’s advantages are numerous.” They predict that Meta’s growth may exceed Amazon’s advertising business for the first time since 2015.
(PRO) Upgrade before profit
Analysts became more bullish on six global stocks this week, raising price targets ahead of quarterly earnings season.
bottom line
Some common safe-haven assets have been relatively popular this week.
gold Prices reached new highs this week.Even people in trouble yen The pair gained a rare respite against the U.S. dollar on Thursday, rebounding from levels that many feared could trigger government intervention.
Geopolitical tensions are rising in the Middle East as oil prices soar to their highest levels in more than five months.
According to reports, Israel Prepare for retaliatory attacks It is speculated that an Israeli airstrike on the Iranian embassy compound in Damascus killed several Iranian generals.
All of this comes as U.S. stocks – which have outperformed over the past 12 months – have corrected this week after a weak start to the second quarter.
Continuous comments from Federal Reserve officials this week have also weakened hopes for a first rate cut, with markets expecting the Fed to cut interest rates for the first time at its June meeting.
along with CBOE Market Volatility Index Hitting its highest since late last year, some investors appeared to be hedging their positions in anticipation of greater volatility ahead.
The risk aversion is palpable.
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