It was another wild day…
Russians rejected the peace deal and preparing the huge battle with Ukraine.
It seems like US railways will start strike by Friday. $2 billion per day would be the starting cost for this strike.
Biden and US congress are going to persuade the unions one last time.
US PPI numbers were ok this time and as result, stock market recovered.
It seems like UP, BNSF and other smaller railway unions are going to strike this time.
30% of all US logistics will be stopped immediately and it will cost $2 billion a day.
Railway CYs stopped receiving cargos already.
US government and Congress will try again stopping the strike.
If the strike begins, it’ll be a another disaster for the world.
US PPI numbers were in the ranges of the expectations.
Aug PPI was -0.1% and annual number was 8.7%. All in the ranges of the expectations.
Annual PPI for Jun was 11.3% and Jul was 9.8%. PPI numbers are going down fast.
So, which one is more realistic number? CPI or PPI?
FED will prefer whatever the number suitable to raise the rate anyway.
Why FED is so craving about raising the rate anyway?
Are they really going to raise the rate more than 0.75% next week?
We’d better ask that question to Mr. Powell and Biden.
Because of modest PPI numbers, US stock market recovered in choppy way.
DJ Index was up 0.1%, S&P 500 index was up 0.3% and NASDAQ was up 0.7% today.
Apple was up 1.0%, Amazon was up 1.4%, MS was up 0.1% and Tesla was up 3.6%