About the Video
Weekly stock market analysis – OPEC Oil Market Report, US CPI Inflation Report, FOMC Meeting Minutes, Earnings Announcements and more.
🔴 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗜𝗕𝗞𝗥 ➡️ Click Here
⬇️Timestamps:
0:00 → Economic Updates
3:01 → OPEC Monthly Oil Market Report
4:14 → US CPI Inflation Report
6:37 → FOMC Meeting Minutes (September)
8:35 → Earnings Announcements
12:08 → Upcoming Important Dates
The Organization of the Petroleum Exporting Countries (OPEC) Group has cut its 2022 forecast for growth in world oil demand for a fourth time since April and also trimmed next year’s figure, citing slowing economies, the resurgence of China’s COVID-19 containment measures and high inflation. Oil demand will increase by 2.64 million barrels per day (bpd) or 2.7% in 2022, down 460,000 bpd from the previous forecast.
Both the headline and core CPI surprised to the upside and show that August’s report was not a one-off. The good news is that the downward trajectory in core goods prices has resumed as price gains slowed to 6.6% in September from 7.1% in August. Persistently strong core price inflation in September is going to keep the pressure on the Fed to keep the rate hikes coming.
The September FOMC meeting minutes confirmed that reining in inflation remains the principal objective of the Federal Reserve. The uncertainty surrounding the Russia-Ukraine conflict will continue to add to the upside risk. While labor market conditions remain tight, there has been a noticeable deceleration in recent economic data, which is in line with the Fed’s expectations.
Major banks and financial institutions kicked off their earnings reports in a flurry Friday morning. Wells Fargo (WFC), JPMorgan Chase (JPM), Morgan Stanley (MS), Citigroup (C) and PNC Financial Services Group (PNC) are all released quarterly results. Performance for the period was mixed despite big increases in interest revenue.
The spread between the yields on the 10-year and 2-year Treasury notes has been inverted for more than a month, and is now standing at -0.47%. An inverted yield curve has historically been a reliable indicator of a coming recession, coming most recently before downturns in 1990, 2001, and 2008. While brief inversions typically don’t predict a downturn, ones that last beyond a momentary flashing can have stronger predictive power.
Follow Ziet
Disclaimer: The content on this channel is for educational purposes only and merely cites my own personal opinions. In order to make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a licensed financial advisor if necessary.
