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Ukrainian President Zelensky: It is too early to draw conclusions based on todays discussions.Sources say that protests by contractors have disrupted access roads to the Escondida and Saldivar copper mines in Chile.On January 24th, according to foreign media reports, a core group of political parties in the European Union is demanding that EU banking and market regulators, while fulfilling their supervisory responsibilities in the financial sector, should take into account the EUs declining industrial competitiveness. This call comes as the EU is undertaking a comprehensive revision of its financial regulatory framework. A document shows that the European Peoples Party (EPP), the largest group in the European Parliament and a center-right bloc, stated that "to help the EU achieve its broader economic growth goals," the scope of responsibilities for regulators should be broadened to explicitly include competitiveness as a consideration. These requirements would apply to all institutions responsible for supervising the EUs banking, securities, and insurance sectors. The Christian Democratic Union (CDU), led by German Chancellor Merz, has also joined the call for reduced regulatory burdens. Merz stated frankly in a meeting with banking officials last year that current EU financial regulations are "too stringent."January 24th - According to foreign media reports, the Mexican government is reassessing its decision to continue oil shipments to Cuba due to rising concerns about potential US retaliation or increased diplomatic pressure. The government of Mexican President Sinbaum believes that continuing fuel supplies to Cuba could trigger retaliatory measures or diplomatic pressure from the United States. Cuba faced severe energy shortages and frequent power outages after Venezuelan crude oil exports to Cuba were disrupted. Subsequently, Mexico became one of Cubas major oil suppliers, which the Mexican government describes as humanitarian aid and says is in line with long-standing bilateral agreements. Although the specific scale of shipments is not transparent, these supplies have significantly improved Cubas ability to obtain fuel.Sources say Mexico is assessing whether to halt oil shipments to Cuba due to fears of U.S. retaliation.

Stock Markets Analysis – Is Recession Possible?

Skylar Shaw

Jun 30, 2022 14:50

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Data released yesterday showed that consumer confidence decreased more than anticipated in June, reaching a six-month low, adding fuel to those worries.

consumer assurance

According to the Conference Board, the decline was caused by rising inflation and worries about a potential recession. Consumers' expectations for wage growth, the job market, and business conditions have dropped to their lowest points in over a decade, giving them a rather bleak short-term picture for the economy as a whole.


Bulls, on the other hand, highlight specifics from the Consumer Confidence report that show US consumers do not intend to cut back on spending as much as some have feared, with future spending plans for automobiles and other expensive items like refrigerators and washing machines actually increasing... so they claim. Given that gas prices have increased by up to $5 a gallon in many areas and that grocery store food prices are much higher than they were in the past, it's difficult for me to see where people would find the bigger lump sums of money.


You have to think that the US consumer will eventually reach a credit card limit and lose the ability to refinance and leverage their properties. Remember that consumer spending makes up over 70% of our economy, so if it declines, the economy will as well.


How much will consumer spending slow down, I wonder? Perhaps not much right now, but if the Fed keeps raising interest rates and the price of food and energy continues to rise—which I believe it will—the US consumer will ultimately suffer greatly.

Q2 earnings

For S&P 500 businesses, experts on Wall Street presently forecast Q2 profit growth of +4.3 percent, down from approximately +6 percent at the end of March. As we approach Q2 earnings season, which "unofficially" begins on July 13 with reports from major Wall Street Banks, many on Wall Street believe that expectations will be lowered even more.


Investors today will be analyzing more remarks from Fed Chair Jerome Powell, who will take part in a panel discussion at a bank symposium sponsored by the European Central Bank.


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