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April 21, people familiar with the matter said that despite the uncertainty caused by US tariffs, Bank of Japan officials do not see the need to change their existing stance of gradual interest rate hikes at this time. People familiar with the matter said that Bank of Japan officials believe that Trumps tariff actions and retaliatory actions against the United States may weaken Japans economy and may delay the progress of the central banks price target. But for now, their overall economic forecasts remain largely unchanged as they wait for more data to analyze the impact of US tariffs. Given the various possible economic scenarios, officials view is that it is too early to incorporate these scenarios into the basic forecast and make major changes to the central banks policy stance, people familiar with the matter said. The Bank of Japan may also consider lowering its inflation expectations in the quarterly economic report released at the end of the policy meeting, people familiar with the matter said. This change would come from a stronger yen, lower oil prices and possible economic weakness. They said the Bank of Japans first core inflation forecast for fiscal 2027 is likely to be around 2%.On April 21, people familiar with the matter said that despite the uncertainty caused by US tariffs, Bank of Japan officials do not see the need to change their existing stance of gradual interest rate hikes at this time. People familiar with the matter said that Bank of Japan officials believe that the Trump administrations tariff actions and retaliatory actions against the United States may weaken Japans economy and may delay the progress of the central banks price target. But the people familiar with the matter added that for now, their overall economic forecasts remain largely unchanged because more data is needed to analyze the impact of US tariffs. Given the various possible scenarios for the economy, officials view is that it is too early to incorporate these scenarios into the basic forecast and make major changes to the central banks policy stance, the above-mentioned people familiar with the matter said.Sources: India wants to impose a 12% temporary tariff or safeguard duty on imported steel "as soon as possible".On April 21, Ankai Bus announced that its operating income in the first quarter of 2025 was 658 million yuan, a year-on-year increase of 14.84%. Its net profit was 4.3703 million yuan, a year-on-year decrease of 9.95%.Market news: The Bank of Japan is reportedly discussing lowering its economic growth forecast for this year.

Apple Propels Wall Street to A Substantially Higher Closing Price

Charlie Brooks

May 18, 2022 10:03

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Wall Street closed Tuesday significantly higher, led by Apple, Tesla (NASDAQ:TSLA), and other mega cap growth firms, as April's robust retail sales allayed fears of an economic slowdown.


Ten of the eleven major S&P sector indexes rose, with the financials, materials, consumer discretionary, and technology sectors all gaining more than 2 percent.


Investors were pleased to learn that U.S. retail sales rose 0.9% in April as customers purchased automobiles in response to an improvement in supply and dined at restaurants.


Recent underperformers Microsoft Corp (NASDAQ:MSFT), Apple Inc (NASDAQ:AAPL), Tesla Inc, and Amazon (NASDAQ:AMZN) pushed the S&P 500 and Nasdaq higher by between 2% and 5.1%.


The broad rally on Tuesday follows several weeks of selling on the U.S. stock market, during which the S&P 500 reached its lowest level since March 2021.


"The major segments of stocks that investors often purchase have been substantially depressed. They are either in a market correction or bear market "According to Defiance ETF's chief investment officer, Sylvia Jablonski. I believe investors are seeking opportunities to buy on the drop, and today may be a good time to do so.


Citigroup (NYSE:C) climbed over 8 percent after Warren Buffett's Berkshire Hathaway (NYSE:BRKa) reported a roughly $3 billion investment in the U.S. lender. The S&P 500 Banks index increased by 3.8%.


Another set of economic data revealed that industrial production increased by 1.1% in April, exceeding forecasts of 0.5% and outpacing the 0.9% increase in March.


Bill Adams, chief economist for Comerica (NYSE:CMA) Bank in Dallas, stated, "This is consistent with ongoing economic expansion in the second quarter and not a current recession."


Fed Chair Jerome Powell stated at an event on Tuesday that the Federal Reserve will "keep pushing" to tighten monetary policy until it is evident that inflation is dropping.


Traders estimate a probability of 85 percent for a 50-basis point rate hike in June.


The S&P 500 finished the session at 4,088.85 points, up 2.02%.


The Nasdaq increased by 2.76 percent to 11,984.52 points, while the Dow Jones Industrial Average increased by 1.34 percent to 32,654.52 points.


39 times so far in 2022, the S&P 500 has risen or lost 2 percent or more in a session, compared to 24 times in all of 2021. This demonstrates Wall Street's recent volatility.


GRAPHIC-S&P 500's busiest trades - https://fingfx.thomsonreuters.com/gfx/mkt/zgpomemlwpd/SPX by busiest trades.png


Walmart (NYSE:WMT) fell 11.4% after the retail giant lowered its annual profit prediction and signaled a damage to its margins. Since 1987, this was the largest one-day percentage decline for Walmart's stock.


Costco (NASDAQ:COST), Target (NYSE:TGT), and Dollar Tree (NASDAQ:DLTR) all declined between 0.8% and 3.2%.


United Airlines Holdings (NASDAQ:UAL) rose 7.9 percent after the company raised its revenue prediction for the current quarter, lifting shares of Delta Air, American Airlines (NASDAQ:AAL), and Spirit Airlines (NYSE:SAVE).


Concerns over the situation in Ukraine, increasing inflation, COVID-19 lockdowns in China, and aggressive policy tightening by central banks have obscured the first-quarter earnings season.


The S&P 500 is down about 14% so far in 2022, and the Nasdaq is off around 23%, hit by tumbling growth stocks.


Chinese stocks listed in the United States rose on expectations that China may soften its restrictions on the technology sector.


On the NYSE, advancing issues outweighed declining ones by a ratio of 2.92 to 1; on the Nasdaq, the ratio was 3.19 to 1.


The S&P 500 recorded one new 52-week high and thirty new lows, but the Nasdaq Composite recorded 24 new 52-week highs and 126 new lows.


Volume on U.S. exchanges was 12.0 billion shares, compared to a 20-day average of 13.3 billion shares.