About the Video
Weekly stock market analysis – US CPI and PPI report, Oil & Gas Price, Banks Earnings and more.
🔴 𝗦𝘁𝗮𝗿𝘁 𝗜𝗻𝘃𝗲𝘀𝘁𝗶𝗻𝗴 𝘄𝗶𝘁𝗵 𝗜𝗕𝗞𝗥 ➡️ Click Here
⬇️Timestamps:
0:00 → Economic Updates
1:29 → CPI Report
5:11 → PPI Report
6:39 → Banks Earnings
10:44 → Upcoming Important Dates
The consumer price index, a broad measure of everyday goods and services related to the cost of living, soared 9.1% from a year ago, making it the fastest pace for inflation going back to November 1981. The Core CPI (which excludes volatile food and energy prices) increased 5.9%, compared with the 5.7% estimate. Core inflation peaked at 6.5% in March and has been declining since.
According to a Saudi news site, Saudi Arabia has agreed to boost oil production following President Joe Biden’s meeting with the Saudi Crown Prince. If that is to be announced in the next OPEC+ meeting on the 3rd of August, the OPEC+ may increase their oil production by 3 million barrels a day, ramping up to its maximum production capacity of 12 million barrels a day. That will also subsequently the stress off oil and gas prises until the end of 2022.
Jamie Dimon, CEO of JP Morgan & Chase said: “But geopolitical tension, high inflation, waning consumer confidence, the uncertainty about how high rates have to go and the never-before-seen quantitative tightening and their effects on global liquidity, combined with the war in Ukraine and its harmful effect on global energy and food prices are very likely to have negative consequences on the global economy sometime down the road.”
Among the 5 big banks that announced their Q2 earnings, 2 banks (JPMorgan and Morgan Stanley) missed analysts’ earnings estimate miserably, 1 bank (Wells Fargo) barely beats EPS by a mere 0.02 cents/share, while another 2 banks (PNC Financials and Citigroup) beat the analysts’ earnings estimate, thanks to the tailwind from the increased interest income brought by the rate hikes.
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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.
