EUR/USD 1.15526
0.180%
Gold 4246.74
4.158%
Oil 74.309
-0.030%
USD/JPY 157.758
0.010%
GBP/USD 1.34670
0.114%
GBP/JPY 212.451
0.131%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Sequoia Capital has completed a new round of financing of $10 billion.Faraday Future (FFIE.O): Plans to reduce its debt of $230 million as of the end of the first quarter to below $100 million within four quarters.On August 6th, Federal Reserve Governor Tim Cook reiterated her stance: she is prepared to raise interest rates if inflation does not slow, and warned that policymakers may not have room to wait for inflation to return to the 2% target. While Cook supported the Feds decision to keep interest rates unchanged at the July policy meeting, she cautioned that the longer inflation remains above the Feds target, the more difficult it will be to curb it. Speaking at an event in Alaska, Cook said, "If I dont see signs of a sustained decline in inflation anytime soon, Im prepared to act. With inflation above target for five consecutive years, the risk of inflation becoming entrenched in price and wage-setting behavior is rising, which will lead to more persistent inflation that we will find harder to manage." However, Cook indicated that the waning impact of tariffs, the potential for lower oil prices, and easing pressures related to the AI boom might provide a buffer for inflation, thus necessitating policy tightening. She stated that her primary task remains getting inflation back to the Feds target level.SanDisk (SNDK.O) shares fell more than 3% in after-hours trading in the U.S.SanDisk (SNDK.O) reported revenue of $8.96 billion for Q4 of fiscal year 2026, exceeding market expectations of $8.394 billion and compared to $1.901 billion in the same period last year.

Concentrate on U.S. Inflation as Oil Falls After China-Led Rally

Skylar Williams

Aug 09, 2022 10:36

25.png


On Tuesday, oil prices retreated from recent gains, with WTI futures hovering around $90, as investors redirected their focus to incoming U.S. inflation data for further monetary policy indicators.


As of 02:02 EST, U.S. Crude Oil WTI Futures declined 0.5% to $90.34, while Brent Oil Futures decreased 0.2% to $96.27. (0000 GMT).


On Monday, amid choppy trading, both contracts rose as much as 3 percent on signs that crude demand remained high in China, the world's largest oil importer.


In July, China's oil imports increased significantly from a four-month low, as additional locations lifted COVID restrictions.


On the heels of dismal factory data, fears of a decrease in Chinese demand pushed oil prices to a six-month low last week, levels not seen since before Russia's invasion of Ukraine.


As a result of the war's ramifications and the COVID-19 pandemic, it is now projected that this year's gasoline prices will be affected by a global recession.


Wednesday's release of U.S. CPI inflation data will likely determine the Federal Reserve's rate rise strategy for the following month.


Given that gasoline prices have decreased from their yearly peak and are a substantial contributor to CPI inflation, it is predicted that the July estimate will be lower than the previous month. The average estimate for yearly growth in July has decreased from 9.1 percent in June to 8.7 percent.


This year, the Federal Reserve has raised interest rates four times and has hinted at further hikes. The central bank has emphasized a data-driven approach to monetary policy tightening, thus the magnitude of its next increase will largely rely on the July and August CPI readings.


Higher interest rates will have a detrimental effect on economic activity and will likely constrain oil consumption. Two straight quarters of economic downturn in the United States have led markets to believe that the nation is presently experiencing a recession.

Suggestion