US Univ. of Michigan's index of consumer sentiment increased to 72.4 in May from 69.8 in April final report, above consensus expectations of 70. The rise in headline was driven entirely by an increase in the expectations component.
US CPI rose 0.4% in April and core rose 0.2%, both in line with consensus expectations.
Monetary policy in the US will be "in transition" over the next two years as long as the economy continues on its gradual growth path with moderate inflation, the Atlanta Federal Reserve bank president said on Sunday
Just a day after the election results of five state assemblies were announced, the Indian government announced to hike petrol price by about Rs 5 per litre. On the other hand, State-owned oil marketing companies have decided to slash prices of aviation turbine fuel by an average 1,802 rupees per kL, or over 2.8%, from midnight tonight in the four metros.
Japanese core machinery orders unexpectedly rose 2.9% MoM in March due to solid demand from the non-manufacturing sector, even as the March earthquake disrupted supply chains nationwide.
Greece today will plead for a boost in its EUR 110 bn-euro bailout from European governments and the IMF in talks clouded by the arrest of IMF Managing Director Dominique Strauss-Kahn. Europe’s donor countries, led by Germany, are demanding deeper budget cuts in exchange for granting Greece extra aid or giving it more time to pay back official loans, and are weighing whether to make bondholders share the costs.
On Friday, US stocks declined, giving the S&P 500 Index a second straight weekly loss, as concern over Europe’s debt crisis deepened and inflation reports spurred speculation global interest rates will rise.
Today, most Asian stocks dropped on concern Greece’s debt crisis may worsen, and after Goldman Sachs Group Inc. downgraded Japanese and Korean shares. The Indian equity benchmarks opened in the red on back of negative cues from overseas markets. Auto, banks, metals, and IT stocks were the key laggards at the time of writing.
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