The United States will release ADP employment data, which is known as the small non-agricultural sector, today. The U.S. 10-year Treasury yield was at 3.342%. U.S. stock futures fell on Wednesday (5th), with Dow Jones futures down 0.07%, S&P 500 futures down 0.11%, and Nasdaq 100 futures down 0.04%.

The market expects that the ADP non-agricultural employment data in March will increase by 205,000, a decrease from the previous month. In addition, the number of new non-agricultural employment in March is estimated to be about 238,000, which is also a decline from the previous quarter’s 311,000. The unemployment rate is The forecast was maintained at 3.6%.

The successive failures of three banks in the United States (Silvergate Bank, Silicon Valley Bank, and Signature Bank) have led to a crisis in the global banking industry. After the March meeting, the Federal Reserve decided to raise interest rates by 1 yard to 4.75% to 5%. The Federal Open Market Committee (FOMC) voted Committee members believe that tightening financial conditions may put pressure on economic activity.

Cleveland Federal Reserve Bank President Loretta Mester (Loretta Mester) believes on Tuesday (4th) that the banking crisis is under control. She supports the Fed’s May meeting to raise interest rates again, further entering the restrictive zone.

“To keep inflation down to the 2 percent target and steady, monetary policy will move further into restrictive territory this year, with the federal funds rate above 5 percent and remaining elevated for some time,” Mester predicted.

“The U.S. banking system is sound and resilient, and the stress experienced in March (bank failures) has eased, but the Fed will continue to monitor the situation closely and is prepared to take further steps as necessary to ensure financial stability,” Mester said. .”

According to the CME Group’s FedWatch tool, the Fed’s next meeting is scheduled for early May, at which time the policy rate could be raised by a further 25 basis points.U.S. President Joe Biden said on Tuesday that he is not sure whether artificial intelligence (AI) will pose a danger, and emphasized that technology companies have a responsibility to ensure that products are safe before they are released to the world. The news sent AI concept stocks down across the board.