The market's expectations for European and American central banks to turn pigeons are getting higher and higher, and market risk sentiment has improved recently. Overnight, European and American stock markets rose across the board, with the Nasdaq Golden Dragon China Index rising by more than 4%; the yields of the US dollar and US bonds both lowered to boost gold prices. USD index fell below the 111 integer mark on Tuesday, the first time since October 6, closing down 0.93% to 110.95.
See the specific data of US stock . By the close, the Dow Jones Industrial Average rose 337.12 points, rose 1.07%, closing at 31,837 points; Nasdaq Comprehensive Index rose 246.51 points, up 2.25%, closing at 11,199 points; S&P 500 Index rose 61.77 points, up 1.63%, closing at 3,859 points.
In terms of European stock markets, at the close of the market, the British Financial Times 100 index fell by 0.01%, France CAC40 index rose by 1.94%, Germany DAX30 index rose by 0.94%, Italy MIB index rose by 1.40%, Austrian ATX index rose by 1.52%, and Spain IBEX35 index rose by 1.55%.
Focus news, natural gas suddenly hit a "negative price" in some areas of the United States and Europe. On Tuesday, gas prices in West Texas in the United States fell below zero, falling to a low of $2/million BHP, about $5 a week ago. The price drop to negative means that gas producers are actually spending money to ask people to take gas out of them. The reason for "negative price" is that natural gas production capacity is higher than pipeline transportation capacity.
The same situation occurred in Europe. In some areas, liquefied natural gas oversupply, and spot natural gas prices once fell to negative values. At present, the filling rate of in European gas storage has exceeded 90%. In the main gas storage centers in France, Italy and Spain, the filling rate of gas storage is even close to 100%. This also puts some natural gas transported by sea to no place to resettle, while the problem of oversupply of LNG in other regions may further intensify in the next 2-3 weeks.
In contrast to the above phenomenon, International Energy Agency Administrator Birol said on Tuesday that the world has fallen into "the first real global energy crisis" as the global liquefied natural gas market tightens and major oil producers cut supplies. Birole warned that global gas market will continue to be tense next year. He also mentioned that as the G7 countries are preparing to set price caps on Russian oil, the world still needs most of Russia's oil to flow into the market to ensure global demand is met.
At the same time, EU member states held a meeting of energy ministers on Tuesday to support the joint procurement of natural gas, and the total joint procurement volume will reach 13.5 billion cubic meters. EU countries recommend a new mandatory European natural gas benchmark price by the end of next March. The meeting also discussed issues such as how EU member states can properly adjust natural gas in the event of an emergency and simplify access procedures for renewable energy. The final plan will be decided by the meeting of the European Council next month.
Other news, on Tuesday, the S&P /Kase-Shiler House Price Index released by S&P on Tuesday showed that the comprehensive house price index of 10 cities tracking the largest real estate market in the United States rose 12.1% year-on-year in August, narrowing from the year-on-year increase of 14.9% in July. The comprehensive housing price index in 20 cities in the United States rose 13.1% year-on-year, which also slowed by 2.6 percentage points from the previous month's year-on-year increase. It is the largest contraction since the indicator was launched in 1987, which means that the increase in housing prices in the United States is slowing down at a record pace.
Analysts believe that mortgage interest rates have risen rapidly since this year's record low, causing the once hot US real estate market to fall into trouble. At the beginning of this year, the average interest rate for 30-year fixed housing loans in the United States was around 3%. By June, the interest rate had exceeded 6%, and is now slightly higher than 7%.
In addition, it is worth noting that Sunak warns the UK is facing a serious economic crisis. On Tuesday, Rich Sunak accepted the authorization of the British King Charles III to form a new cabinet at Buckingham Palace and officially took office as British Prime Minister . In his speech, Sunak promised to lead the UK to restore credibility, rebuild confidence and overcome the economic crisis. Sunak said the UK was experiencing a serious economic crisis and he placed economic stability and confidence at the heart of this government agenda and united the entire UK with actions rather than words.
Sunak promises to establish a stronger British national health insurance system, better schools, safer streets, control the UK border, strengthen environmental protection, etc.
