Suddenly, the world becomes better and brighter place to live? Optimism is a good thing but let’s not too exaggerated on lower CPI numbers. 7.7% is still way too high that no one can say “inflation is done” and besides, FED’s target inflation rate is 2%.
Russians retreated from Kherson finally and Chinese shortened 2 days of their COVID quarantine periods. WOW..
US stock market rallied once more today but not as strong as yesterday.
DJ was up by 0.1%, S&P 500 Index was up by 0.9% and NASDAQ index was up by 1.9%…
If FED decide to raise the rate much slower than before, global equity markets would be boomed again for sure. Cryptocurrency markets are in chaos, one of the biggest crypto exchanges, FTX finally filed bankruptcy today. It seems, whole market is falling apart.
Apple was up by 1.9%, MS was up by 1.7%, Amazon was up by 4.3% and Tesla was up 2.8%.
Would it be another rally next week? Market seems recovering too fast and too steep, which could means, can’t hold longer.
US Dollar Index collapsed once more today.
Investor are now clearly showing some movements out of dollar this week. JPY, Euro and British Pound get strong back from this weaker dollar movements. US Dollar value has been the biggest two days drop in 14 years’ time.
US dollar Index downed by 1.7% and ended at 106.36 points.
It seems too fast and too steep, same as stock market but opposite direction.
China decided to shorten the quarantine periods from 7 days to 5 days…WOW.. And they…