Asian markets rise as investors come back from the Good Friday weekend
Revenue is expected to have fallen nearly 20% compared with last year's 63 trillion won, Samsung said in its release.— Jihye LeeThe Bank of Korea is expected to hold its benchmark interest rate steady at 3.5% again in its monetary policy decision on Tuesday, according to Reuters survey of economists.The South Korean central bank in its last meeting in February paused its tightening cycle after seven consecutive rate hikes since March 2022.
The Reuters poll also expects the central bank to start cutting rates by as much as 50 basis points in the first quarter of 2024 and even further in the third and fourth quarter of next year.The first-quarter earnings season kicks off next week with big banks including JPMorgan and Citigroup reporting. Consensus expectations are for S&P 500's earnings per share to fall by 7% year over year, the largest decline since the third quarter of 2020, according to Goldman Sachs.
We've got a long ways to go and I think inflation is going to be sticky going forward, it's going to be difficult to get inflation back down to the 2% target ... so we are going to have to stay at it in order to apply pressure to make sure inflation gets back down," Bullard said, according to Reuters.
The Fed is scheduled to meet next month, with traders pricing in a near 50-50 chance of another rate hike.The two-year Treasury yield, most sensitive to monetary policy, dipped 3 basis points to 3.73% Thursday. The short-term rate has fallen for five straight sessions in a row. The Federal Reserve is next scheduled to meet in early May, and the market is split on whether the central bank will pause or hike rates by a further 25 basis points, according to the CME Group's FedWatch tool.Trading volume was muted on Thursday ahead of the holiday. As of 2:20 pm ET, only 38 million shares of
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