The US stock indices renew price records again
Famous broadcaster and former fund manager Jim Cramer believes that productivity growth can exceed the price increase if the market can get right with supply chains. It will allow the Federal Reserve to keep interest rates low and allow stocks to rise further.
The European Central Bank increased its QE balance again. Total assets rose by another €31.6 billion to a new high of €8,368.3 billion. The European Central Bank will hold a monetary policy meeting on Thursday where the ECB is expected to tighten its policy slowly to contain the euro.
Gasoline prices in Europe are among the highest over the past ten years. At the same time, harsh winter in Europe may lead to further increases in gas prices. According to Bloomberg, Russia wants to lower gas prices for Europe to keep its supply contracts.
Oil prices continued to rise after the American Petroleum Institute report again showed another drop in inventories at a storage center in Cushing, Oklahoma, where supply levels are already at their lowest level since 2018. Weekly crude inventories reserves at 2.318m (previous 3.294m).
Saudi Aramco’s CEO said that oil demand is growing, while the extension of free capacities causes a considerable problem. The US will continue to put pressure on OPEC to lower global fuel prices.
Consumer prices in Brazil increased more than expected in October, putting pressure on the central bank to increase the pace of interest rate hikes amid plans to increase government spending. Consumer prices jumped by 1.2% from the previous month.
The Australian dollar increased on Wednesday as unexpectedly strong inflation data raised the prospect of an earlier-than-planned rate hike by the Reserve Bank of Australia.
S&P 500 (F) 4,574.79 +8.31 (+0.18%)
Dow Jones 35,756.88 +15.73 (+0.044%)
DAX 15,757.06 +157.83 (+1.01%)
FTSE 100 7,277.62 +54.80 (+0.76%)
USD Index 93.94 +0.12 (+0.13%)
News feed for: 2023.07.04
- Australia Consumer Price Index (m/m) at 03:30 (GMT+3);
- US Core Durable Goods Orders (m/m) at 15:30 (GMT+3);
- Canada BOC Monetary Policy Report (m/m) at 17:00 (GMT+3);
- Canada BOC Interest Rate Decision (m/m) at 17:00 (GMT+3);
- US Crude Oil Reserves (w/w) at 17:30 (GMT+3);
- Canada BOC Press Conference at 18:00 (GMT+3).
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
