Inflation in Germany breaks the record. OPEC+ countries will not pump more oil
Investors are looking forward to the start of the US earnings season, which begins on Wednesday with the release of companies from the banking sector. “Even if the US earnings season shows good earnings growth, we doubt companies will start revising their own forecasts upward,” said Capital Economics economist Oliver Allen. “Because of this, we expect only a slight increase in the US stock market until the end of the year.”
Finnish telecommunications equipment manufacturer Nokia announced its exit from the Russian market.
OPEC has told the EU that it is impossible to compensate for the potential loss of Russian oil supplies. Current and future sanctions against Russia could cause serious shocks to oil supplies in history, and these volumes cannot be offset. At the same time, OPEC countries will not fill the deficit by increasing production. OPEC is resisting calls by the United States and the International Energy Agency to increase oil production. OPEC opposes calls by the United States and the International Energy Agency to increase oil production. At the same time, EU representatives also noted that OPEC is responsible for balancing oil markets. However, OPEC has said that the current high market volatility results from “non-fundamental factors” beyond OPEC’s control, so the group will not pump more. Currently, oil is not rising as quarantines imposed in China due to COVID-19 have briefly reduced demand prospects.
Stock indices of the Asia-Pacific region traded flat yesterday. Japan’s Nikkei 225 (JP225) yesterday decreased by 0.61%, Australia’s S&P/ASX 200 (AU200) gained 0.10%, while Hong Kong’s Hang Seng (HK50) lost 3.03%. On the other hand, Chinese indices have strengthened as there are signs that some of the strict restrictions in Shanghai will be lifted.
S&P 500 (F) (US500) 4,412.53 -75.75 (-1.69%)
Dow Jones (US30) 34,308.08 -413.04 (-1.19%)
DAX (DE40) 14,192.78 -90.89 (-0.64%)
FTSE 100 (UK100) 7,618.31 -51.25 (-0.67%)
USD Index 99.99 +0.20 (+0.20%)
News feed for: 2023.07.04
- Japan Producer Price Index (m/m) at 02:50 (GMT+3);
- UK Claimant Count Change (m/m) at 09:00 (GMT+3);
- UK Unemployment Rate (m/m) at 09:00 (GMT+3);
- German Consumer Price Index (m/m) at 09:00 (GMT+3);
- German ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
- Eurozone ZEW Economic Sentiment (m/m) at 12:00 (GMT+3);
- US Consumer Price Index (m/m) at 15:30 (GMT+3);
- US FOMC Member Brainard Speaks at 19:10 (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.
