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World Today: Key Issues to Watch

As the world faces a range of significant events and developments, here are the key issues to follow today:

  1. Dow Jones Closes Higher on Progress in Debt Ceiling Bill: The Dow Jones ended on a positive note on Thursday, driven by advancements in Congress passing a bill to raise the debt ceiling. This achievement, combined with expectations of the Federal Reserve (Fed) maintaining interest rates at its upcoming meeting, contributed to the market’s upward momentum.
  2. Positive Outlook for Asian Stock Markets: Asian stock markets are expected to trade in positive territory today, influenced by the performance of technology stocks on the New York Stock Exchange. Investors will closely monitor the release of the US non-farm payroll numbers for further market insights.
  3. Fed Officials Indicate Support for Halting Rate Hikes: Federal Reserve President Patrick Harker and incoming Fed Vice Chairman Philip Jefferson have joined other officials in signaling support for a pause in rate hikes at the upcoming June 13-14 Fed meeting. This has provided additional confidence to investors who anticipate a halt in interest rate increases.
  4. Market Expectations of Fed’s Rate Decision: According to the latest data from CME Group’s FedWatch Tool, investors weigh a 70.4% probability of the Fed maintaining rates at 5.00-5.25% during the June 13-14 meeting, while 29.6% expect a 0.25% rate hike to 5.25-5.50%.
  5. NATO Secretary General’s Efforts to Include Sweden: The Secretary General of NATO expressed his commitment to expedite Sweden’s entry into the alliance. He plans to visit Turkey soon to accelerate the process of incorporating Sweden into NATO.
  6. Nonfarm Payroll Numbers to be Revealed: Investors eagerly await the release of nonfarm payroll data from the United States today. Analysts predict a rise of 180,000 jobs in May, indicating a slowdown from the 253,000 jobs added in April. The unemployment rate is also expected to increase to 3.5% in May, compared to 3.4% in April.

Stay informed and follow these developments as they unfold, as they can significantly impact global markets and geopolitical dynamics.

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