News Highlights: Top Global Markets News of the Day - Wednesday at 9 PM ET

S&P 500 Snaps Two-Day Losing Streak 
 

Powell says a strong economy hasn't changed Fed's expectation that interest rate cuts will be warranted later this year.

 
Powell Still Sees Room for Fed to Cut Rates This Year 
 

The Fed chair said stronger-than-anticipated economic activity hasn't changed the Fed's expectation that declining inflation will allow for rate cuts.

 
Strong Australian Services Sector Growth A Headache For RBA 
 

Activity in Australia's services sector remains upbeat, something that is sure to alarm the Reserve Bank of Australia, which remains engaged in a fight to cool inflation pressures.

 
Oil, gold and the dollar are surging. Here's why that could derail the Fed's rate-cut outlook. 
 

A global economic recovery is fueling a blistering commodities rally in 2024 - threatening to derail the Federal Reserve's efforts to curb inflation and potentially clouding its path to cutting interest rates by mid-year, according to market strategists.

 
Baltimore Bridge Collapse Triggers Extensive, Costly Logistics Diversions 
 

Car carriers are shifting to new ports as several container lines push added transport expenses to customers.

 
U.S. economy expanded in March at slightly slower speed, ISM shows. Inflation cools a bit. 
 

A barometer of business conditions at service-oriented companies fell in March to a three-month low, but it still showed the largest part of the U.S. economy in expansion mode.

 
U.S. Crude Oil Stockpiles Rose by 3.2 Million Barrels Last Week 
 

U.S. crude oil inventories unexpectedly rose last week, and stocks of gasoline and diesel decreased more than expected while refinery capacity use slipped.

 
Private-sector hiring in March was U.S.'s strongest in eight months: ADP 
 

American businesses added 184,000 new jobs in March, the biggest jump in hiring since July, paycheck company ADP said Wednesday.

 
Gold Shows 'Unprecedented Strength' in Record Rally 
 

The precious metal has dodged recent declines in the stock market. Does the rally still have legs?

 
Eurozone Inflation Cools, Setting Stage for June Rate Cut 
 

The eurozone's annual rate of inflation fell for the third straight month in March, a surprise that makes it more likely that the European Central Bank will cut its key interest rate in June.

(END) Dow Jones Newswires

April 03, 2024 21:15 ET (01:15 GMT)

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