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On July 22, Japans imports surged 25.4% year-on-year in June, reaching a record 11.3 trillion yen (approximately US$69.25 billion), driven by a weaker yen and soaring oil prices. This increase exceeded market expectations of 21% and was the fastest pace since November 2022, resulting in a trade deficit of 406.9 billion yen (approximately US$2.49 billion) in June, far exceeding the previously predicted 120 billion yen. While crude oil imports declined by 13.7% year-on-year, the import value surged by 59.3%, with yen-denominated unit prices also reaching a record high, highlighting that current inflationary pressures are largely driven by exchange rate factors rather than demand growth. This means that the yens appreciation has a more significant effect on alleviating import cost pressures than potential short-term changes in oil demand. On the export side, the resilience of demand from data centers related to artificial intelligence provides the Bank of Japan with real economic growth support that can be used to offset inflationary risks. This combination of factors suggests that the Bank of Japan is more likely to adopt a cautious, gradual interest rate hike path rather than a sudden and sharp tightening of policy. The market currently expects the Bank of Japan to keep interest rates unchanged next week, but will maintain its tightening policy stance.Malaysias Deputy Finance Minister: If crude oil prices are $90 per barrel, the monthly subsidy program for 95-octane gasoline will be RM2 billion, and the diesel subsidy will be RM1.5 billion.July 22 – According to the Fujian Provincial Bureau of Statistics, based on the unified accounting results for regional GDP, the provinces GDP in the first half of the year reached 2,931.582 billion yuan, a year-on-year increase of 4.0% at constant prices. Specifically, the added value of the primary industry was 125.979 billion yuan, a year-on-year increase of 3.6%; the added value of the secondary industry was 1,247.608 billion yuan, an increase of 3.8%; and the added value of the tertiary industry was 1,557.995 billion yuan, an increase of 4.1%.Mitsubishi Electric and Sony Semiconductor Solutions have formed a joint venture to focus on artificial intelligence vision sensors for industrial manufacturing.July 22 – This morning (July 22), the State Council Information Office held a press conference to introduce the implementation of the 15th Five-Year Plan, accelerate the modernization of customs, and contribute to the construction of a strong trading nation. Ports are gateways to the outside world. During the 15th Five-Year Plan period, customs will accelerate the implementation of key border port projects under the national 15th Five-Year Plan, simultaneously implement the 57 port facility renovation projects under the 15th Five-Year Plan, and speed up the construction of railway ports such as Turugart and Ganqimaodu. This will help further optimize the layout of port opening.

S&P 500 And Nasdaq Complete A Bumpy Session With Gains As Inflation Data Looms

Aria Thomas

May 11, 2022 10:14

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Tuesday's closing prices for the S&P 500 and Nasdaq were higher than those of the previous day, with large-cap growth stocks appreciating in the wake of the previous day's selloff as Treasury yields declined.


In tandem with yields, bank shares declined. The yield on benchmark 10-year notes fell from a three-year high to below 3 percent.


The Dow likewise closed lower, and the day's trading was bumpy, with key indexes fluctuating between gains and losses as investors anticipated the release of U.S. consumer price index and producer price index data on Wednesday and Thursday, respectively.


Investors will search for indications that inflation is at its high.


The recent market decline has been fueled by concerns that the U.S. Federal Reserve may need to act more aggressively to combat inflation. Numerous additional worries have added to the tension.


Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma, stated, "It's basically fear-based selling."


"It can't just be that the Fed will raise interest rates to combat inflation, because we've seen this before," he said. According to Dollarhide, investors have been concerned about everything from interest rates and inflation to the war in Ukraine, supply chain issues, and China's COVID-19 lockouts.


Apple Inc (NASDAQ:AAPL) shares increased by 1.6%, boosting the S&P 500 and Nasdaq the most.


The Dow Jones Industrial Average decreased 84.96 points, or 0.26 percent, to 32,160.74, while the S&P 500 rose 9.81 points, or 0.25 percent, to 4,001.05 and the Nasdaq Composite rose 114.42 points, or 0.98 percent, to 11,737.67.


Technology and growth stocks, whose valuations are primarily dependent on future cash flows, have been among the hardest affected during the recent selloff. The Nasdaq is down almost 25% so far this year.


The technology sector of the S&P 500 increased 1.6% on the day and led all S&P 500 sector advances. The S&P 500 growth index increased by 0.9%, while the S&P 500 value index declined by 0.4%.


Loretta Mester, president of the Federal Reserve Bank of Cleveland, stated that the U.S. economy would encounter turbulence as a result of the Fed's attempts to reduce inflation that is more than three times its target, and that recent stock market volatility will not dissuade policymakers.


In a speech on Tuesday addressing excessive inflation, Vice President Joe Biden said he was considering lifting Trump-era tariffs on China as a means of reducing prices for goods in the United States.


Pfizer Inc (NYSE:PFE) shares jumped 1.7% after the company announced it will pay $11.6 billion to acquire Biohaven Pharmaceutical Holding Co. (NYSE:BHVN). Biohaven shares increased 68.4%.


Peloton Interactive (NASDAQ:PTON) fell 8.7 percent as the workout equipment manufacturer cautioned the business was "thinly financed" following a quarterly revenue decline of 23.6 percent.


The volume on U.S. exchanges was 15.45 billion shares, compared to the average of 12.55 billion shares for the previous 20 trading days.


On the NYSE, declining issues outnumbered advancing ones by a ratio of 1.36 to 1; on the Nasdaq, the ratio was 1.34 to 1.


The S&P 500 had one new 52-week high and sixty-three new lows, while the Nasdaq Composite recorded nineteen new highs and one thousand six hundred sixty-six new lows.

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