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APRIL 10, 2023


The U.S. economy has been uplifted by a surprising drop in unemployment and an ongoing trend of steady hiring figures. This has boosted confidence for those who believe that minor setbacks will be the only challenge to face this year. Although there seemed to be a slowdown in March, recent non-farm payrolls figures suggest that the jobs market remains strong, with unemployment dropping to the lowest levels in over 50 years. However, there is still some worry about the potential tightening of bank lending due to the recent shake-up, leaving speculation about how or when this will influence job markets, salaries, and consumer spending.


Central banks across the world have been actively increasing interest rates, but now this trend looks to be coming to an end. The Federal Reserve is expected to pause interest-rate hikes after May due to signs of stalling economic growth and ongoing tension in financial markets. The European Central Bank may continue its restrictive settings for a while, but the significant shift in U.S. monetary policy led by Fed’s chair Jerome Powell could set a precedent for other global central banks to follow.


Oil prices remained relatively stable at the start of this week as traders analyzed the potential supply risks after the Organization of the Petroleum Exporting Countries (OPEC+) decided to reduce production. This decision has led to a boost in optimism for higher oil prices. However, there are still concerns about lower demand because of slow economic growth. OPEC+ and the International Energy Agency are set to provide traders with valuable insights this week as they release monthly outlooks.


Wall Street banks are expected to report lower quarterly earnings due to the recent regional banking crisis and a slowing economy. Recent estimates suggest that earnings per share for the six largest U.S. banks will be down about 10% from last year. Nevertheless, some analysts believe that JPMorgan Chase & Co may come out ahead as the bank’s net interest margin was higher than some of its competitors. The larger banks were able to benefit from access to cheap deposits due to the collapse of Silicon Valley Bank, but experts warn that subdued loan growth and the risk of souring credit conditions could make it a challenging earnings season for them. Banks may need to add to provisions against potential losses and implement liquidity measures, which could potentially lead them to face downward revisions to their net interest income.


The demand for personal computers has dropped significantly due to a decrease in remote working equipment. Apple’s PC shipments fell by more than 40%, alongside a 29% decline for other PC makers in the first quarter of this year. This fall in demand appears to be giving manufacturers the time needed to make changes as many factories increasingly explore production options outside China. Apple, in particular, is looking for more alternatives to China due to the brewing political tensions between the U.S. and Beijing, which may affect the company’s supply chains.

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STOCK MARKET Dow Jones ended at $39,411.21 (+0.67%) S&P 500 ended at $5,447.87 (-0.31%) Nasdaq Composite ended at $17,496.82 (-1.09%) The stock market has continued its trend of mixed performances as there was a sector rotation. Investors moved away from big technology names, leading to declines in the tech-heavy Nasdaq Composite and the S&P 500, […]

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JUNE 24, 2024

CRYPTOS PLUNGED The cryptocurrency market is currently experiencing significant losses, marked by its second-largest weekly drop in 2024. This downturn reflects decreasing demand for Bitcoin exchange-traded funds (ETFs) and ongoing uncertainties surrounding monetary policy. An index from Bloomberg tracking the top 100 digital assets reported a 5% decline over the past week, the steepest since […]

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STOCK MARKET Dow Jones ended at $39,150.33 (+0.04%) S&P 500 ended at $5,464.62 (-0.16%) Nasdaq Composite ended at $17,689.36 (-0.18%) The stock market ended the week with mixed performances primarily due to the influential decline of the major player in the technology sector, Nvidia, which dragged down the S&P 500 and Nasdaq Composite. Meanwhile, the […]

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