Investors should prepare for the upcoming week - full of events that hope for the market's movement.
The FOMC will meet on Tuesday and Wednesday. Fed Chairman Jerome Powell will hold a press conference after it.
"We do not expect any important announcement at the upcoming FOMC meeting next week," wrote Michael Feroli of JPMorgan on April 24. "In the past months, the Fed focused on lending programs. We believe that this will still be the case next week. The traditional focus of monetary policy, which is the level of risk-free interest rates, will most likely fade in the background. "
Some changes are expected in the Fed's April statement.
"The Committee's April statement will have to take into account this sharp deterioration in the economy," said economist Jan Hatzius of the Goldman Sachs on April 23. "We expect the statement to note that economic activity has plummeted, and that a historic surge of layoffs will be summed up."
"The economic decline in the second half of March due to reduced production means that the GDP for the first quarter will show a decrease in production volumes for the first time in six years. It will be much worse in the second quarter. "
GDP is expected to decline by 3.7% in the first quarter. Following a record drop in March retail sales, personal consumption is likely to decline by 2.3% as well.
"January and February showed steady growth, but the artificial limitation of production led to a collapse in the last weeks of March," Credit Suisse said on April 23.
March marked the beginning of a recession in the United States, followed by a more serious decline in the second quarter.
According to FactSquared, more than 200 companies applied for the state program, which provides emergency finance for small businesses without access to other sources of capital. At least $ 854.7 million assistance was given.
Unfortunately, many were outraged as large state-owned companies received the loans, while hundreds of thousands of small businesses remained in limbo.
