Financial News

Natural gas prices test multi-week highs as traders react to the bullish report.

U.S. retail sales jumped 1% in July, hitting $709.7B and exceeding expectations. Strong consumer demand boosts economic confidence amid easing inflation.

Gasoline inventories decreased by 2.9 million barrels from the previous week.

July 2024 inflation rises to 2.3% year-over-year. Energy prices surge, with gas up 11.4%. Service sector inflation slows, as transport and communication prices drop.

The UK core inflation rate declined in July, with softer services inflation significant. However, headline inflation rose, creating policy uncertainty.

Core PPI, excluding food, energy, and trade services, advances 0.3% in July, outpacing June’s 0.1% increase and hinting at stronger inflationary pressures.

On Tuesday, August 13, the UK unemployment rate unexpectedly declined in June, while wage growth softened, delivering more policy uncertainty.

It could be a pivotal week ahead for the markets, with economic data from the UK, the US, Japan, and Australia putting central banks on watch.

The crypto market cap was up 3.65% for the current week, with easing fears of a US recession driving buyer demand for riskier assets, including crypto.

July inflation numbers from Germany highlighted the challenges that the ECB faces with services inflation showing no signs of softening.

Natural gas prices rebounded from session lows as traders reacted to the EIA report.

Markets respond positively to lower-than-expected jobless claims, suggesting potential economic stability amid growth concerns.

Eli Lilly reports Q2 EPS of $3.92, exceeding expectations. Revenue reaches $11.30 billion, driven by strong drug sales.

Gasoline inventories increased by 1.3 million barrels, exceeding analyst expectations.

Dow Jones component Disney’s combined streaming services posted an operating profit of $47 million, a significant improvement from last year’s $512 million loss.

While German factory orders and industrial production rebounded in June, exports highlighted the weak demand environment impacting the economy.

According to the report, many panelists noted a return to more stable supply chain performance.

Amidst growing concerns about the US economy, data from China and Germany could further impact sentiment toward the global economy.

Supply and demand trends impacted BTC and ETH, dragging the broader crypto market into negative territory as US recession fears intensified.

July jobs report shows unexpected slowdown in US labor market. Nonfarm payrolls miss estimates, unemployment rises to 4.3%. Implications for Fed policy and markets.