Has Inflation peaked?
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World Market News: Inflation news amid good stock week!
Financial news this week was more on the positive end of the spectrum while the world mourned the death of Queen Elizabeth the second, the longest-reigning British monarch.
Courtesy of the queen’s legacy, we’re bringing you some positive news from the UK and around the world, starting with news from India.
Recently, India surprised the world after its economy ranked 5th on a worldwide scale, beating many competitors, while U.S stocks had a good week as the euro rose back above parity.
Now, back to the important question…
How was the U.S. market faring this week?
U.S. equity markets rose for a third consecutive day on Friday, closing a losing streak for the major averages, which lasted for three weeks.
In a nutshell, the Dow closed 2.7% higher, the S & P 500 added 3.7%, while the Nasdaq gained over 4%.
More news from the UK
UK inflation might have peaked!
The British prime minister’s plan to control skyrocketing electricity and natural gas prices is expected to affect the UK economy and may even provide some relief to inflation levels.
The takeaway?
Lower inflation may help give the Bank of England more breathing space in terms of raising rates in the short term!
Eventful week for investors
The coming week might be one of the most eventful times for investors as they are bracing for the consumer price index (CPI) and producer price index (PPI) figures, which will be released Tuesday and Wednesday respectively.
The importance of the data lies in its ability to offer hints on the inflation situation.
After all, the question regarding if inflation is really peaking has been on investors' minds for some time now!
The Federal Reserve is on it!
However, even if the data shows progress on the inflation front, the Fed’s decisions won’t be impacted as per James Bullard, the president of the Federal Reserve Bank of St. Louis.
The decision of raising interest rates at the next policy meeting this September is expected and another three-quarters of a percentage point, or 75 basis points, is in the horizon.
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Treasury yields?
Treasury yields rose to their highest levels since mid-June!
What’s hot for next week?
August inflation reports, retail sales, and UK economic data!
Let's hope this week's data provide relief to investors everywhere!
Source: CNN
GCC Market News:? The UAE and KSA are on a roll
UAE stocks gains
UAE stocks gained $2.7 billion this Wednesday with the gains being especially present in the realty, telecom, and banking sectors as well as cash inflows by both individuals and institutions.
Saudi’s going green!
Saudi Arabia disclosed a $186 million investment with the purpose of developing a green economy and creating more jobs.
This is not the first step the kingdom has taken towards a sustainable step in its future!
Also, did you know that the Saudi economy grew by 12.2% in the second quarter, reaching its highest level since 2011?
We couldn't be more proud of both countries' achievements!
Source: Arabian Business
Weird Financial Facts: Fate of coins!
One thing we love about the finance world is that many things don’t go to waste!
Coins are repurposed right after they reach a point when they’re too tarnished to remain in circulation. Guess who handles the job? The Federal Reserve!!
If you only thought the Fed was only about interest rate hikes, you got it wrong.
The central bank definitely has more tricks up its sleeve!
Source: Clever Girl Finance
Things to look out for: Crypto partnerships and your weekly favorite news, oil updates!
Crypto partnerships
?Even though Bitcoin, the world's most famous cryptocurrency, underwent significant losses this week, cryptocurrencies are making headlines again.
?GameStop investors were in favor of the retailer’s tightening embrace of crypto as a partnership with crypto exchange FTX was announced.
Here’s some crypto news for the crypto-investors among you: Bitcoin surged past the $20,000 barrier and is looking forward to achieving its best day in six weeks!
Oil production
?With the OPEC+ announcement of decreasing production, it’s no surprise that the world has been gripped with fear regarding the fate of the energy crisis.
As per crude oil prices, prices fell to their lowest level since January earlier this week but rose on Friday as the Russian President threatened to stop supplies.
Note that the price of West Texas Intermediate crude briefly fell below $82 per barrel on Wednesday, and then rebounded to $86 per barrel!
As you can tell, it's an exciting week for everyone in the market! Stay tuned for more financial and economic updates with the Monday Money Talk!
Source: cnbc