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Rijksmash Financial: Raises its target price for Arm (ARM.O) from $166 to $244.On May 7, Li Hongzhong, member of the Political Bureau of the CPC Central Committee and Vice Chairman of the Standing Committee of the National Peoples Congress, conducted research in Beijing. He emphasized the need to adhere to Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as guidance, thoroughly study and implement the spirit of General Secretary Xi Jinpings important speeches during the National Peoples Congress and the Chinese Peoples Political Consultative Conference (NPC and CPPCC) sessions, earnestly implement the arrangements of the Fourth Plenary Session of the 20th CPC Central Committee and the "15th Five-Year Plan" outline, actively leverage the functions of the NPC, and better serve high-quality development. Building a modern industrial system and achieving an overall leap forward in the industrial system are important strategic tasks during the "15th Five-Year Plan" period. The NPC should focus on consolidating and strengthening the foundation of the real economy and leading the development of new productive forces, strengthen institutional supply and legal guarantees, actively promote legislation in emerging fields such as artificial intelligence, low-altitude economy, and biomedicine, improve the ecosystem for industrial innovation and development, and cultivate and strengthen new drivers of growth.McDonalds (MCD.N) reported an 11% increase in global system sales in the first quarter.McDonalds (MCD.N) reported revenue of $6.517 billion in Q1 2026, compared to $5.96 billion in the same period last year, and market expectations of $6.472 billion.On May 7th, Boston Federal Reserve President Collins stated that she agrees with the position of her colleagues who objected to the wording of last weeks monetary policy meetings post-meeting statement, which suggested the Fed would eventually resume interest rate cuts. Collins said she "strongly supports" the decision to keep interest rates unchanged, but at the same time prefers to adjust the wording of the statement to "not be too close to statements suggesting the next step will be a rate cut." Collinss view on the statements wording highlights a further shift within the FOMC towards no longer considering near-term rate cuts. A growing number of officials want the Fed to signal more clearly that the next step could be either a rate cut or a rate hike. Collins stated that with the energy shock triggered by the Middle East conflict delaying progress toward the 2% inflation target, she tends to take a more "agnostic" stance on the future path of interest rates. Interest rates may remain unchanged for "a longer period," with "further easing expected in the more distant future." However, in some cases, the Fed may need to consider raising rates, but she emphasized that this is not her baseline expectation. "Im more concerned about the persistence of inflation," Collins said, noting that as the global spillover effects of war continue, supply chain disruptions could cause price increases to spread from energy to the food sector. She added that interest rates should remain at their current "moderately restrictive" level. "But if the inflation path looks clearly heading in the wrong direction," policymakers will "need to reassess what is the right policy."

OPEC+ insisted on gradually increasing production, the oil distribution once rose more than 3% and touched US$82

Oct 26, 2021 10:57

On Monday (October 4), U.S. oil futures rose 1.74 US dollars, an increase of 2.3%, and settled at 77.62 US dollars per barrel. It has been rising in the past six weeks, setting the highest level since 2014. Burundi oil rose 1.98 US dollars, or 2.5%, to close at 81.26 US dollars per barrel, rising to the highest level since 2018. According to the OPEC+ statement, the ministers of the member states approved a plan to increase production by 400,000 barrels per day in November. The market had previously speculated that OPEC+ might choose to increase production by a larger margin in November, but according to the representative, there was no such proposal at the meeting, and oil prices were on the rise.

At present, Saudi Arabia's oil production is close to the level before the outbreak, and oil revenue is the highest since 2018. The other member states basically abide by the plan to gradually restore idle production capacity every month. According to an unnamed US official, Washington is also satisfied with the current pace of production increase. According to the statement, OPEC+ member states will hold another production meeting on November 4. In July this year, OPEC+ agreed to increase production by 400,000 barrels per day until April 2022, and gradually cancel the existing 5.8 million barrels per day production reduction plan. OPEC+'s decision to continue to gradually increase oil production has pushed up oil prices and intensified inflationary pressures. Consumer countries are worried that inflationary pressures will derail the economic recovery from the epidemic.

John Kilduff, a partner at Again Capital LLC, said, "In view of the demand situation and the results of the OPEC meeting, the overall sentiment of the crude oil market is bullish." Goldman Sachs Energy Research Director Damien Courvalin said that oil prices have reached the highest level in seven years. Inventories are about to fall to a 10-year low, which laid the foundation for another significant rise. Affected by the conversion of energy consumption, there will be an additional 650,000 barrels of oil demand per day later this year.

Russian Deputy Prime Minister Alexander Novak said at the OPEC+ monthly meeting that the organization's decision to maintain the 400,000 barrels per day increase in production plan in November will continue to help stabilize the market. The decision to maintain output growth at this level "will be the moment of equilibrium, which will allow us to continue to normalize the market." OPEC+’s compliance rate with respect to the production restriction agreement reached 119% in August, the highest level since the beginning of the agreement. Demand exceeded supply in August, which led to a reduction in inventories. As of today, inventories are 130 million barrels lower than the 5-year average. This is good for the market and means that the market is already balanced.

According to data from the International Energy Agency (IEA), an energy watchdog, demand for coal and natural gas surpassed its pre-coronavirus highs, followed by oil. Three-quarters of the global energy demand is still met by fossil fuels, and non-nuclear renewable energy accounts for less than one-fifth. The increase in oil prices has also been driven by a greater increase in natural gas prices. The soaring price of natural gas has prompted people to turn to fuel oil and other crude oil products to generate electricity and meet other industrial needs.

The Director of the International Energy Agency, Birol, predicts that oil prices will fall in the next few months, bringing "good news" to the recovery of the global economy. At the same time, a White House spokesperson said that the United States will take all measures to lower gasoline prices or limit oil price increases.

(U.S. oil daily chart)

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