Quick Overview

• The Fed reduced the federal funds rate to 2.00%,
  

• U.S. GDP rose 0.6% QoQ and 2.5% YoY.
  

• U.S. employment cost index rose 0.7% QoQ and 3.3% YoY.
  

• The Chicago Purchasing Managers' index rose from 48.2 to 48.3
  

• Canada’s GDP was down 0.2% MoM and up 1.5% YoY.
  

• Consumer prices in the Euro area rose 3.3% YoY.
  

• Japan’s unemployment rate improved from 3.9% to 3.8% in March.
  
  
  
  

• The U.S. DOE said that:
  Supplies of crude oil rose 3.8 million barrels to 319.9 million barrels
  Supplies of gasoline fell 1.5 million barrels
  Supplies of heating oil fell 500,000 barrels.
  Refinery use dropped from 85.6% to 85.4%
  Gasoline demand rose 0.4% YoY
  Distillate demand rose 0.7% YoY
  
  

• Prudential Financial's first-quarter net income dropped 94% on large investment losses.