Wyllian Capucci
07/06/2021
Comes up
Crude Oil hit a six-year high this morning after trading betweenOPEC and its allies left the market without the expected increase in production.A barrel of West Texas Intermediate for August delivery traded at US$76.98,no negotiations scheduled for today. The upward movement in oil increases thefears of inflation among investors. The US is asking for a solution to befound, with a White House official saying that President Joe Biden wantsthat Americans have access to affordable and reliable energy as the economyreopens
Didi down
Shares of Didi Global Inc. tumbled in pre-market trading, falling to$10.90 after China’s cyberspace regulator ordered stores toapplications to remove the company from their lists. Although the ban does not prevent Didito operate in its home market, the timing of change will raise questions aboutwhether the IPO should have taken place. Regulators asked the company to postpone the offer in therecent months, according to people familiar with the matter. Events won’t do anything toreassure US investors about the risks involved in IPOs in China.There are currently 34 pending registrations of listings in the United States by companiesheadquartered in China or Hong Kong. Didi’s collapse from its $14 quote for the weekpast makes your task much more difficult.
Relaxing
President Biden practically announced the end of the pandemic in the United States in theSunday, saying the country had achieved “independence” from the coronavirus. The governmentUK is not far behind, with Prime Minister Boris Johnson planningend almost all legal measures introduced to control the virus fromJuly, 19. The delta variant remains difficult to control, however, with Russiareporting the highest number of fatalities on Tuesday. The variant is also presentin one of the worst outbreaks in Africa
Market slip
Leaving aside oil price volatility, so far it’s morningrelatively quiet for global stocks. Overnight, the MSCI Asia Pacific indexgained less than 0.1%, while Japan’s Topix index closed up 0.3%. In Europe,the Stoxx 600 Index remained virtually unchanged at 6:50 am, Brasília time, withthe best performing travel companies. The S&P 500 futures pointed toa small drop at the opening, the 10-year Treasury yield was at 1.422% andgold was back at $1,800 an ounce
Coming
The final reading for US services and composite PMI for June is at 10:45 am, with theISM services for the month at 11am. Jeff Bezos, Mark Zuckerberg, Warren Buffett, and Tim Cookare on the guest list for Sun Valley’s annual conference taking place this year.week. Vulcan Materials Co. is among the few companies reporting results
Source:https://wintrademarkets.com/
