Thursday, March 30, 2023
  • About Us
  • Contact Us
Parliamentobserver
  • Ecology
  • Economy
  • Healthcare
  • Politics
  • Education
  • Business
  • Login
No Result
View All Result
Parliamentobserver
Home Economy

Market Talk – May 11, 2022

Dennis Rogers by Dennis Rogers
September 29, 2022
in Economy
0
Market Talk – May 11, 2022
0
SHARES
11
VIEWS
Share on FacebookShare on Twitter

ASIA:

Related posts

Biden could reduce inflation, mitigate a recession, and strengthen democracy with a new EU-US trade agreement

Biden could reduce inflation, mitigate a recession, and strengthen democracy with a new EU-US trade agreement

September 29, 2022
Recent trends in global value chains and beyond

Recent trends in global value chains and beyond

September 29, 2022

China’s consumer and producer prices rose more than expected in April, according to data from the National Bureau of Statistics released Wednesday. The consumer price index rose by 2.1% last month from a year ago, boosted by a surge in energy and fresh vegetable costs. The reading topped expectations for a 1.8% rise forecast by a Reuters poll. April’s figure was also the highest since November’s 2.3% print and well above the 18-month average of 0.9% consumer price inflation. China’s official CPI target for 2022 is “around 3%.”

India exported a record 1.4 million tonnes of wheat in April, four trade sources said, providing some relief to grain markets as buyers scramble for alternatives to Black Sea supplies hit hard by the war in Ukraine. Buyers from Asia and the Middle East are purchasing Indian wheat, as it is cheaper than alternatives, a New Delhi based dealer with a global trading firm said. India has exported wheat to South Asia, Southeast Asia, the Middle East, Europe, and North Africa. As supplies dropped from Ukraine and Russia, which together used to account for about 29% of global wheat exports, top wheat importer Egypt agreed for the first time to purchase the grain from India. In April, Indian traders signed wheat export deals at between $295 and $340 a tonne free on board.

 

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 46.54 points or 0.18% to 26,213.64
  • Shanghai increased 22.86 points or 0.75% to 3,058.70
  • Hang Seng increased 190.88 points or 0.97% to 19,824.57
  • ASX 200 increased 13.50 points or 0.19% to 7,064.70
  • Kospi decreased 4.29 points or -0.17% to 2,592.27
  • SENSEX decreased 276.46 points or -0.51% to 54,088.39
  • Nifty50 decreased 72.95 points or -0.45% to 16,167.10

 

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.0028 or 0.40% to 0.69639
  • NZDUSD increased 0.0027 or 0.43% to 0.63170
  • USDJPY decreased 0.38 or -0.29% to 129.965
  • USDCNY increased 0.00057 or 0.01% to 6.74701

 

Precious Metals:

  • Gold increased 15.00 USD/t oz. or 0.82% to 1,853.08
  • Silver increased 0.382 USD/t. oz or 1.80% to 21.622

 

 

Some economic news from last night:

China:

CPI (MoM) (Apr) decreased from 0.6% to 0.4%

CPI (YoY) (Apr) increased from 1.5% to 2.1%

PPI (YoY) (Apr) decreased from 8.3% to 8.0%

Japan:

Foreign Reserves (USD) (Apr) decreased from 1,356.1B to 1,322.2B

South Korea:

Unemployment Rate (Apr) remain the same at 2.7%

Australia:

Westpac Consumer Sentiment (May) decreased from -0.9% to -5.6%

 

Some economic news from today

Japan:

Coincident Indicator (MoM) (Mar) decreased from 0.5% to 0.2%

Leading Index (MoM) (Mar) increased from -1.2% to 0.9%

 

 

 

EUROPE/EMEA:

Britain on Wednesday rejected European Union proposals to resolve a standoff over post-Brexit trade rules for Northern Ireland, saying it would not shy away from taking direct action in a move Ireland said would trigger legal action by Brussels. Prime Minister Boris Johnson’s government agreed to a protocol that instead created a customs border in the sea between Northern Ireland and the rest of the UK, but it now says the required bureaucracy is intolerable.

Ukraine said on Tuesday its forces had recaptured villages from Russian troops north and northeast of the city of Kharkiv, pressing a counter-offensive that could signal a shift in the war’s momentum and jeopardize Russia’s main advance. In Washington, top US intelligence officials said the war was at a stalemate. President Vladimir Putin appeared to be preparing for a long conflict, and a Russian victory in Ukraine’s eastern Donbas region might not end the war, Director of National Intelligence Avril Haines said.

 

The major Europe stock markets had a green day:

 

  • CAC 40 increased 152.82 points or 2.50% to 6,269.73
  • FTSE 100 increased 104.44 points or 1.44% to 7,347.66
  • DAX 30 increased 293.90 points or 2.17% to 13,828.64

 

 

The major Europe currency markets had a mixed day today:

  • EURUSD increased 0.0001 or 0.01% to 1.05327
  • GBPUSD decreased 0.0018 or -0.15% to 1.22915
  • USDCHF decreased 0.00423 or -0.42% to 0.99173

 

Some economic news from Europe today:

Germany:

German CPI (MoM) (Apr) decreased from 2.5% to 0.8%

German CPI (YoY) (Apr) increased from 7.3% to 7.4%

German HICP (MoM) (Apr) decreased from 2.5% to 0.7%

German HICP (YoY) (Apr) increased from 7.6% to 7.8%

 

US/AMERICAS:

The US inflation data for April came in at 8.3%. The figure dipped slightly below March’s record high of 8.5%, but is obviously concerning to the Fed as it could take years for the rate to drop to their 2% target. The Federal Reserve said that a 50 basis point increase is on the table for the next few meetings, as calming inflation is of utmost concern. Not accounting for energy or food, core CPI spiked to 6.2%.

The declining buying power of the dollar is hurting American workers. Real wages fell 0.1% last month and have dropped 2.6% over the past year. Although hourly earnings are up 5.5% for the year and 0.3% for the month, the rise is not enough to combat the price spike.

US Market Closings:

  • Dow declined 326.63 points or -1.02% to 31,834.11
  • S&P 500 declined 65.87 points or -1.65% to 3,935.18
  • Nasdaq declined 373.43 points or -3.18% to 11,364.24
  • Russell 2000 declined 43.65 points or -2.48% to 1,718.14

s

Canada Market Closings:

  • TSX Composite declined 52.81 points or -0.27% to 19,837.25
  • TSX 60 declined 2.71 points or -0.22% to 1,206.6 points

 

Brazil Market Closing:

  • Bovespa advanced 1,286.96 points or 1.25% to 104,396.9

 

 

ENERGY:

 

The oil markets had a green day today:

 

  • Crude Oil increased 6.3 USD/BBL or 6.32% to 106.0600
  • Brent increased 6.05 USD/BBL or 5.94% to 107.95
  • Natural gas increased 0.219 USD/MMBtu or 2.97% to 7.6040
  • Gasoline increased 0.147 USD/GAL or 4.15% to 3.6885
  • Heating oil increased 0.0987 USD/GAL or 2.51% to 4.0309

 

The above data was collected around 13:04 EST on Wednesday

 

  • Top commodity gainers: Crude Oil (6.32%) and Brent (5.94%), Gasoline (4.15%), Bitumen (3.37%)
  • Top commodity losers: Steel (-1.43%), Palladium (-1.90%), Rhodium (-3.98%) and Orange Juice (-5.19%)

 

The above data was collected around 13:14 EST on Wednesday.

 

 

BONDS:

 

Japan 0.247%(-0.2bp), US 2’s 2.65% (+0.033%), US 10’s 2.9226% (-7.02bps); US 30’s 3.05% (-0.078%), Bunds 0.964% (-3.9bp), France 1.471% (-7.8bp), Italy 2.894% (-11.8bp), Turkey 22.13% (-16bp), Greece 3.471% (-3.6bp), Portugal 2.090% (-7.7bp); Spain 2.029% (-8.1bp) and UK Gilts 1.8020% (-4.8bp).

The post Market Talk – May 11, 2022 first appeared on Armstrong Economics.

Previous Post

Hatred Will Destroy You: What the Holodomor Teaches Us Today

Next Post

Is China Really Still Communist?

Next Post
Is China Really Still Communist?

Is China Really Still Communist?

RECOMMENDED NEWS

Will Pennsylvania in 2024 be like Florida in 2000?

Will Pennsylvania in 2024 be like Florida in 2000?

10 months ago
How did economic policy affect children’s well-being during COVID-19?

How did economic policy affect children’s well-being during COVID-19?

9 months ago
Why foreign talent is critical to national security: A conversation with Joseph Votel and Christine Fox

Why foreign talent is critical to national security: A conversation with Joseph Votel and Christine Fox

9 months ago
Businesses Are Victims of Gentrification, Too

Businesses Are Victims of Gentrification, Too

1 year ago

BROWSE BY CATEGORIES

  • Business
  • Ecology
  • Economy
  • Education
  • Healthcare
  • Politics

POPULAR NEWS

  • Klaus Schwab – The Most Dangerous Man in the World

    0 shares
    Share 0 Tweet 0
  • Dr. Robert Malone v WEF

    0 shares
    Share 0 Tweet 0
  • Ukraine Adopts WEF Proposals

    0 shares
    Share 0 Tweet 0
  • Trudeau’s Approval Rating Hits 12-Month Low

    0 shares
    Share 0 Tweet 0
  • Trudeau Backs Down After Banks Scream about Massive Withdrawals

    0 shares
    Share 0 Tweet 0
Parliamentobserver

We bring you latest news about ecology, economy, healthcare, politics, education, business.

Recent News

  • Supporting Ukrainian Economy: #SpendWithUkraine Initiative Launched by Ukrainian Brands
  • Starting Up: A Look at the Most Interesting Websites for Entrepreneurs and Startups
  • The Role of Healthcare Advertising in Shaping Economic and Political Decisions

Category

  • Business
  • Ecology
  • Economy
  • Education
  • Healthcare
  • Politics

Recent News

Supporting Ukrainian Economy: #SpendWithUkraine Initiative Launched by Ukrainian Brands

Supporting Ukrainian Economy: #SpendWithUkraine Initiative Launched by Ukrainian Brands

February 6, 2023
Starting Up: A Look at the Most Interesting Websites for Entrepreneurs and Startups

Starting Up: A Look at the Most Interesting Websites for Entrepreneurs and Startups

January 18, 2023
  • About Us
  • Contact Us

© 2022 parliamentobserver.com Submit news release

No Result
View All Result
  • Ecology
  • Economy
  • Healthcare
  • Politics
  • Education
  • Business

© 2022 parliamentobserver.com Submit news release

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In