On October 12th local time, U.S. stock rose slightly at the beginning of the session. The U.S. producer price index rose more than expected in September, indicating that inflation pressure is still high, and the Federal Reserve's efforts to curb inflation will continue. The market is waiting for the minutes of the Fed's last monetary policy meeting and continues to evaluate the impact of the Bank of England's refusal to extend support for market actions.
U.S. September PPI increase slightly higher than expected
On October 12, data released by the U.S. Department of Labor showed that the U.S. September PPI (Producer Price Index) increased by 8.5% year-on-year, down from 8.7% last month, higher than expected 8.4%; it rose by 0.4% month-on-month, the first increase in three months, higher than expected 0.2% and -0.1% last month.
Industry insiders believe that the rise in producer prices in the United States exceeded expectations in September, indicating that inflationary pressure will take time to ease, which will prompt the Federal Reserve to continue to be on the track of positive rate hikes .
It should be noted that the Federal Reserve will release the minutes of the last monetary policy meeting. Federal Reserve Chairman Powell has previously admitted that while aggressive rate hikes may be painful, the Federal Reserve will continue to do its best to curb inflation.
In addition, investors will usher in the highly-watched U.S. Consumer Price Index (CPI) data on Thursday. Quincy Krosby, chief global strategist at
LPL Financial, believes that investors are worried that restrictive monetary policy, that is, austerity financial environment, may lead to liquidity exhaustion and cause greater harm to the global economy.
On Wednesday local time, US stocks rose slightly at the beginning of the session, and popular Chinese stocks rose and fell.
Commodity In terms of international gold and silver futures prices and international crude oil futures prices fell one after another during the session.
Bank of England Governor Bailey warned British pension fund managers on Tuesday that they would end emergency intervention in the UK bond market by Friday, and they must settle unsustainable positions by the weekend before central bank stops market support, triggering sharp drops in pound and U.S. stocks on Tuesday.
Ruisui Securities' U.S. economist team of U.S. economists warned in Tuesday's client report that although S&P 500 has fallen about 25% from its peak this year, there will be more pain for stock market bulls that adopt a "buy on dips" strategy.
Putin : Russia is still preparing to fulfill its commitment to supply energy
On October 12th local time, Russian President Putin said at the Russian Energy Week event that the world economy and energy are experiencing a serious crisis. Vandalism in individual countries is part of the crisis.
Putin said the purpose of the terrorist attack on the "North Stream" natural gas pipeline is to undermine the energy security of the entire continent and prevent cheap energy. The instructors who destroyed the "North Stream" pipeline attempted to permanently cut off the ties between the Russian Federation and EU , further weakening Europe. The beneficiaries of the Nord Stream explosion were the United States and countries with alternative supply routes.
Putin said that repairing the "North Stream" is possible, but this only makes sense if the pipeline can continue to operate safely. A branch of " Nord Stream-2" is still in working state, Russia is still preparing to fulfill its contract to supply energy, Russia is ready to supply more natural gas to Europe during the autumn and winter period, on the EU side. Putin also said that the price of natural gas supplied by Russia to Europe under contract to long-term contracts is three to four times lower than the spot market.
Editor: Yu Zhe Zhang Jing
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-