MAY 27. Shanghai Re-open + Crude oil price rise + Grain Price surge…
Global stock markets extended their rallies today with Shanghai re-open news and peaked inflation possibilities.
Shanghai’s re-open after the two months of COVID lockdowns would be slow and will take a long time to back to normal days but it looks like the Chinese government is going to do on June 1st.
There are some actual numbers from various sources showing that US inflations might be peaked in May and will be slowed down in later months. House sales are falling fast and Retail stores’ inventories are growing fast. So, could it be called the peak of the high inflations or the start of the stagflation? Not so sure at the moment, but today’s stock market understands this as a positive signal.
DJ went up 1.1%, S&P 500 was up 1.7% and NASDAQ was up 2.6% today. Mega tech stocks were leading today’s surge, as usual, Apple was up 3.5%, MS was up 2.1%, Amazon was up 2.7% and Tesla was up 7.1%.
US Dollar Index was down once more, falling 0.2%, ending at 101.66 points.
