World of finance the world of finance is factoring in

The world of finance is factoring in Fed commentary hinting at possible rate cuts in late 2024 if inflation continues its downward trend. Rate-sensitive sectors like real estate and utilities saw substantial inflows today. Of particular interest will be any commentary that paints a fuller picture of the views offered by newly appointed Fed governor Stephen Miran, who has enthusiastically called for stronger rate cuts than his colleagues at the central bank. Worldwide, 79 percent of adults have an account at a bank or similar financial institution or through a mobile money provider, or both (map 1), up from 74 in 2021 and up from 51 percent in 2011 when the first round of Global Findex data was collected. In low- and middle-income economies, 75 percent of adults now have an account. In the world of finance, investors are eyeing the S&P 500’s technical resistance at 5,250 points. Institutional flows suggest a short-term bullish bias, supported by strong manufacturing PMI data from the U.S., exceeding expectations at 54.