November 9, 2022
United States:
US Inflation to Cool Only Slightly, Keeping Big Fed Hike in Play
US inflation probably moderated just slightly in October data due Thursday, and yet another above-forecast reading may dash expectations for the Federal Reserve to downshift from steep interest-rate hikes.
Economists project the consumer price index and the core measure that excludes food and energy both cooled on an annual basis, but to rates still consistent with persistent and elevated inflation. The overall CPI is seen rising from a month earlier by the most since June.
Europe:
European Stocks Drop as Inflation Jitters Keep Buyers Cautious
European stocks fell for the first time in four days as investors turned cautious ahead of key US inflation data that could provide further clues on the course of monetary policy tightening.
The Stoxx 600 Index was down 0.55% as of 1:30 p.m. in London, with miners, travel and leisure and technology sectors leading the declines. Utilities outperformed.
Asia:
Oil Declines on Weak China Demand Outlook, Higher Stockpiles
Oil fell amid a challenging Chinese demand outlook and after an industry report pointed to rising US inventories.
West Texas Intermediate lost as much as 2% and traded near $88 a barrel. Swelling virus outbreaks in China show the strain its Covid Zero strategy is facing, with cases in Beijing hitting the highest in more than five months despite the nation’s program of lockdowns and mass testing.
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
