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Market News U.S. inflation data hits record high in more than 40 years! Global focus on this conference
U.S. inflation data hits record high in more than 40 years! Global focus on this conference
The three major U.S. stock market indexes tumbled across the board last week. The Dow fell 4.58%, the S&P 500 fell 5.05%, and the Nasdaq fell 5.60%, the worst week since January 21 this year.
2022-06-13
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Hopes of peaking inflation failed, the three major U.S. stock indexes tumbled across the board last week
Last week, the latest monthly U.S. inflation data broke the table again. In May, the consumer price index, or CPI, rose by as much as 8.6% year-on-year, setting a new record for more than 40 years. So far, the financial market's hope that the current round of U.S. inflation has peaked and fell has been temporarily lost, and investors are increasingly worried about the Fed's aggressive interest rate hikes and the possibility of a recession in the U.S. economy.
The three major U.S. stock market indexes tumbled across the board last week. The Dow fell 4.58%, the S&P 500 fell 5.05%, and the Nasdaq fell 5.60%, the worst week since January 21 this year.
Among the major sectors of the S&P 500, the financial sector led the decline with a cumulative loss of 6.8% last week, and the three sectors of information technology, real estate and consumer discretionary all fell by more than 6%. Leading technology stocks all fell last week, Amazon fell more than 10%, Microsoft fell more than 6%, and Apple fell more than 5%.
The three major European stock markets collectively fell last week
In Europe, affected by high inflation and interest rate hike expectations, the three major European stock markets also fell collectively last week, including the British stock market down 2.86%, the French stock market down 4.60%, and the German stock market down 4.83%.
In response to upward pressure on inflation, the European Central Bank announced last Thursday that it will stop net asset purchases from July 1 and plans to raise interest rates by 25 basis points in July.
International oil prices rose for the seventh consecutive week last week
With the arrival of the summer travel peak in the northern hemisphere, global oil consumption demand maintains a strong growth trend, while crude oil supply continues to be tight. This supply and demand pattern has caused international oil prices to rise cumulatively last week. New York oil prices rose 1.51%, Brent oil prices It rose 1.80%, and both rose for the seventh consecutive week.
The Fed will hold its June interest rate meeting this week. Will it raise interest rates by 50 basis points or 75 basis points?
This week, global financial markets will focus on the Fed's June meeting on interest rates. Given that the U.S. CPI in May "bursts the table", the market expects the Fed to maintain an aggressive rate hike path. Investors almost unanimously believe that interest rates will be raised by 50 basis points in June, July and September, and some institutions even speculate that they will raise interest rates by 75 basis points. basis point.
In addition to the Fed, the Bank of Japan and the Bank of England will also announce their latest interest rate decisions this week. Although Bank of Japan Governor Haruhiko Kuroda insisted on implementing an ultra-loose monetary policy to support the economic recovery, the yen continued to weaken and fell to a 20-year low against the dollar last week, further weighing on the Bank of Japan's dovish stance.
The inflation rate in the United Kingdom has soared to 9% in April, and the cost of living crisis has intensified. The market is concerned about whether the Bank of England will raise interest rates by 50 basis points this time.
Article source: CCTV Finance
Last week, the latest monthly U.S. inflation data broke the table again. In May, the consumer price index, or CPI, rose by as much as 8.6% year-on-year, setting a new record for more than 40 years. So far, the financial market's hope that the current round of U.S. inflation has peaked and fell has been temporarily lost, and investors are increasingly worried about the Fed's aggressive interest rate hikes and the possibility of a recession in the U.S. economy.
The three major U.S. stock market indexes tumbled across the board last week. The Dow fell 4.58%, the S&P 500 fell 5.05%, and the Nasdaq fell 5.60%, the worst week since January 21 this year.
Among the major sectors of the S&P 500, the financial sector led the decline with a cumulative loss of 6.8% last week, and the three sectors of information technology, real estate and consumer discretionary all fell by more than 6%. Leading technology stocks all fell last week, Amazon fell more than 10%, Microsoft fell more than 6%, and Apple fell more than 5%.
The three major European stock markets collectively fell last week
In Europe, affected by high inflation and interest rate hike expectations, the three major European stock markets also fell collectively last week, including the British stock market down 2.86%, the French stock market down 4.60%, and the German stock market down 4.83%.
In response to upward pressure on inflation, the European Central Bank announced last Thursday that it will stop net asset purchases from July 1 and plans to raise interest rates by 25 basis points in July.
International oil prices rose for the seventh consecutive week last week
With the arrival of the summer travel peak in the northern hemisphere, global oil consumption demand maintains a strong growth trend, while crude oil supply continues to be tight. This supply and demand pattern has caused international oil prices to rise cumulatively last week. New York oil prices rose 1.51%, Brent oil prices It rose 1.80%, and both rose for the seventh consecutive week.
The Fed will hold its June interest rate meeting this week. Will it raise interest rates by 50 basis points or 75 basis points?
This week, global financial markets will focus on the Fed's June meeting on interest rates. Given that the U.S. CPI in May "bursts the table", the market expects the Fed to maintain an aggressive rate hike path. Investors almost unanimously believe that interest rates will be raised by 50 basis points in June, July and September, and some institutions even speculate that they will raise interest rates by 75 basis points. basis point.
In addition to the Fed, the Bank of Japan and the Bank of England will also announce their latest interest rate decisions this week. Although Bank of Japan Governor Haruhiko Kuroda insisted on implementing an ultra-loose monetary policy to support the economic recovery, the yen continued to weaken and fell to a 20-year low against the dollar last week, further weighing on the Bank of Japan's dovish stance.
The inflation rate in the United Kingdom has soared to 9% in April, and the cost of living crisis has intensified. The market is concerned about whether the Bank of England will raise interest rates by 50 basis points this time.
Article source: CCTV Finance
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