NEWSLETTER
Thursday / September 29Sep 29
Thursday / February 10
US inflation
Economists in the US expect the consumer price index for January to advance at a pace of 7.2%.
Inflation data to be released Thursday will show an annual increase, White House spokesman Psaki said.
When CPI is announced on Thursday, it is expected to increase by 0.4% on a monthly basis. The annual forecast of 7.2% will be the highest since 1982. CPI in December rose 7% year-on-year.
Core inflation excluding food and energy is expected to rise 0.4% in January, or 5.9% year-on-year, according to Dow Jones.
Inflation is of key importance for the markets as Fed prepares to increase interest rates. The Fed has made it clear that it will fight inflation. The bank is expected to raise interest rates several times this year, starting with a quarter-point increase in March.
Oil figures
US crude inventories fell 4.8 million barrels last week to 410.4 million barrels, the lowest level since October 2018, government data showed.
Oil prices rose on Wednesday as US crude inventories fell and fuel demand hit an all-time high.
Brent crude futures rose 77 cents, or 0.9%, to $91.55 a barrel. US West Texas Intermediate crude (WTI) rose 30 cents to $89.66 a barrel.
The rising energy market is fueled by Russian threats to Ukraine, and Yemen - United Arab Emirates tensions.
Situation in Eastern Europe
The White House and Pentagon have warned that Russia continues to increase its military activity on the Ukrainian border, despite intense diplomatic efforts to defuse the crisis in Eastern Europe, including French President Emmanuel Macron's high-profile visit to Moscow this week.
Pentagon spokesman John Kirby said Wednesday that even in the last 24 hours Americans continued to see additional capabilities flowing from elsewhere in Russia to the border with Ukraine and Belarus. Kirby said they estimate Russian troops to be north of 100,000.
White House press secretary Jen Psaki accused Russia of not taking de-escalation steps. They're escalating, We definitely hope that will change," she said.
After his visit to Moscow on Monday, Macron said he fulfilled the purpose of diplomacy "to arrange something to avoid tensions and open new avenues". The French president then went to Kiev to meet with Ukrainian president Volodymyr Zelensky.
Saudi-US meeting
The White House US President Joe Biden and King Salman of Saudi Arabia had a phone call on Wednesday and discussed developments in the Middle East, including Iran and Yemen.
According to the statement, the two leaders also committed to ensuring the stability of global energy supplies.
The White House said Biden reiterated the US commitment to support Saudi Arabia in defending against attacks by the Iran-linked Houthi group in Yemen.
King Salman told Biden that joint action is needed against what he termed as Iran's destructive activities in the region and its efforts to develop nuclear weapons, according to the Saudi news agency.
US stocks
U.S. stocks rose Wednesday as tech shares led a broad rally and retraced some of their recent losses.
The Nasdaq Composite Index closed at 14,490.37, up 2.08%. The S&P500 rose 1.5% to 4,587.18, while the Dow Jones Industrial Average rose 305.28 points, or 0.86%, to close at 35,768.06.
Wednesday was the second positive day in a row for the Nasdaq, gaining more than 8% since its close on January 27 after falling into correction territory earlier this year.
Economists in the US expect the consumer price index for January to advance at a pace of 7.2%.
Inflation data to be released Thursday will show an annual increase, White House spokesman Psaki said.
When CPI is announced on Thursday, it is expected to increase by 0.4% on a monthly basis. The annual forecast of 7.2% will be the highest since 1982. CPI in December rose 7% year-on-year.
Core inflation excluding food and energy is expected to rise 0.4% in January, or 5.9% year-on-year, according to Dow Jones.
Inflation is of key importance for the markets as Fed prepares to increase interest rates. The Fed has made it clear that it will fight inflation. The bank is expected to raise interest rates several times this year, starting with a quarter-point increase in March.
Oil figures
US crude inventories fell 4.8 million barrels last week to 410.4 million barrels, the lowest level since October 2018, government data showed.
Oil prices rose on Wednesday as US crude inventories fell and fuel demand hit an all-time high.
Brent crude futures rose 77 cents, or 0.9%, to $91.55 a barrel. US West Texas Intermediate crude (WTI) rose 30 cents to $89.66 a barrel.
The rising energy market is fueled by Russian threats to Ukraine, and Yemen - United Arab Emirates tensions.
Situation in Eastern Europe
The White House and Pentagon have warned that Russia continues to increase its military activity on the Ukrainian border, despite intense diplomatic efforts to defuse the crisis in Eastern Europe, including French President Emmanuel Macron's high-profile visit to Moscow this week.
Pentagon spokesman John Kirby said Wednesday that even in the last 24 hours Americans continued to see additional capabilities flowing from elsewhere in Russia to the border with Ukraine and Belarus. Kirby said they estimate Russian troops to be north of 100,000.
White House press secretary Jen Psaki accused Russia of not taking de-escalation steps. They're escalating, We definitely hope that will change," she said.
After his visit to Moscow on Monday, Macron said he fulfilled the purpose of diplomacy "to arrange something to avoid tensions and open new avenues". The French president then went to Kiev to meet with Ukrainian president Volodymyr Zelensky.
Saudi-US meeting
The White House US President Joe Biden and King Salman of Saudi Arabia had a phone call on Wednesday and discussed developments in the Middle East, including Iran and Yemen.
According to the statement, the two leaders also committed to ensuring the stability of global energy supplies.
The White House said Biden reiterated the US commitment to support Saudi Arabia in defending against attacks by the Iran-linked Houthi group in Yemen.
King Salman told Biden that joint action is needed against what he termed as Iran's destructive activities in the region and its efforts to develop nuclear weapons, according to the Saudi news agency.
US stocks
U.S. stocks rose Wednesday as tech shares led a broad rally and retraced some of their recent losses.
The Nasdaq Composite Index closed at 14,490.37, up 2.08%. The S&P500 rose 1.5% to 4,587.18, while the Dow Jones Industrial Average rose 305.28 points, or 0.86%, to close at 35,768.06.
Wednesday was the second positive day in a row for the Nasdaq, gaining more than 8% since its close on January 27 after falling into correction territory earlier this year.
