profits at S&P 500 companies to have declined 4.8% in the first quarter of 2023 from the year-earlier period, according to Refinitiv data, a slight improvement from last week's forecast of a 5.2% decline.its barometer of manufacturing activity in the state increased for the first time in five months in April.rates by 25 basis points to the 5.00%-5.25% range next month, but recent economic data signaling a slowing U.S.
Traders' bets of a 25-bps hike in May have risen to 85% from 78% last week, according to CME Group's Fedwatch tool. A slew of Fed officials are slated to speak this week, and investors will scrutinize the comments for new indications on whether further rate hikes are likely after May.
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