Financial markets remain tense due to the geopolitical situation in Eastern Europe
Yesterday, the FOMC minutes showed that most officials prefer that the committee’s net asset purchases continue to contract in line with the schedule announced in December, complete the asset purchases in March, and raise the interest rate. FOMC officials may also go for a faster rate hike, but only if the inflation rate does not fall. Several participants expressed confidence that conditions would likely require balance sheet reduction to begin later this year.
NVIDIA cut its losses to a minimum when it announced a partnership with Jaguar Land Rover to build automated driving systems.
US oil inventories increased by 1.1 million barrels over the week. With Iran negotiating a nuclear deal that could release Iranian oil to the global market, oil prices fell sharply yesterday. But this morning, oil prices jumped again as the geopolitical situation in Eastern Europe escalated again. Interruptions in the supply of the main producer with a deficit in the world market could push oil prices up to $100 a barrel.
Asian markets are trading mixed today. Japan’s Nikkei 225 (JP225) decreased by 0.83%, Hong Kong’s Hang Seng (HK50) added 0.07%, and Australia’s S&P/ASX 200 (AU200) increased by 0.16%. Statistics showed Japan had its biggest trade deficit in eight years in January after Europe’s trade deficit widened in December due to higher energy prices. Australia’s unemployment rate remained unchanged at 4.2%.
S&P 500 (F) (US500) 4,475.01 +3.94 (+0.09%)
Dow Jones (US30) 34,934.27 −54.57 (−0.16%)
DAX (DE40) 15,370.30 −42.41 (−0.28%)
FTSE 100 (UK100) 7,603.78 −5.14 (−0.07%)
USD Index 95.80 −0.19 (−0.20%)
News feed for: 2023.07.04
- Australia Unemployment Rate (m/m) at 02:30 (GMT+2);
- US Building Permits (m/m) at 15:30 (GMT+2);
- US Initial Jobless Claims (w/w) at 15:30 (GMT+2);
- US Philadelphia Fed Manufacturing Index (m/m) at 15:30 (GMT+2);
- US Natural Gas Storage (w/w) at 17:30 (GMT+2);
- US FOMC Member Bullard Speaks at 18:00 (GMT+2).
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.
