Dow Jones and S&P Indexes look lower at Tuesday’s opening after a long Memorial Day weekend. Oil prices, and Interest Rates, to Jump as European countries agree to limit Russian Oil imports.
China’s manufacturing index showed a slower decline in May as their Central Bank announced a slew of economic incentives to revive their slowing economy.
Stephen Roach, noted Yale economist, reported his increasing concerns about China’s Gross Domestic Product (GDP) outlook. He doubt’s Communist Party’s 51/2% goal is achievable, and thinks it could be under 4%.
Reports that some small Chinese banks have frozen their depositors’ ability to withdraw funds for over a month, due to what they claim are “system upgrades.” Or are these banks, “out of cash?” Angry depositors, chased by police.