1) Powell may raise policy rates more aggressively
The U.S. Federal Reserve Chair Jerome Powell on Monday said that the central bank must act expeditiously to raise interest rates and in a way possibly more aggressively to tackle rising inflation, while Russia’s war in Ukraine and oil sanctions are threatening commodity prices to go even higher.
The market is now anticipating a possibility of a half-percentage point rate hike at one or more of the Fed’s remaining meetings.
2) Boeing stocks closed lower on report of Boeing 737 crash
The share price of The Boeing Company closed 3.59% lower yesterday, following the report of Boeing 737-800 operated by China Eastern Airlines crashed in Guangxi region, China. The share price continued to edge slightly lower by 0.22% after trading hours.
3) Chinese emergency units looking for survivors of MU5735 flight
Emergency units were dispatched to the crash site of China Eastern Airlines MU5735 at Mozong Village, Teng County, Wuzhou City, as the Chinese President Xi Jinping gave order to prioritize search and rescue survivors.
The latest report said that the fire at the crash site has been extinguished.
4) Kyiv refuses Moscow demand to surrender Mariupol
Ukraine on Monday denied Russia’s ultimatums that demand it to surrender Mariupol after the city has become a focal point against the advancement of Russian armies. In the meantime, reports also stated that a northeast city, Kharkiv, is also under attack as well.
An estimated number of refugees is expected to reach 10 million at the end of this week.
