Wyllian Capucci
22/07/2021
Inflation
President Joe Biden re-entered the inflation debate last night,expressing confidence that the price increase is temporary and will not translate into”long-term inflation that will get out of control”. Republicans criticized Biden after thebiggest increase in consumer prices in over 12 years, whileattributed the lack of labor to unemployment benefits. Biden said in aevent at the CNN city hall that workers from the restaurants and thehospitality are in search of better wages and working conditions. the pressureson prices are also in focus in Europe, where the central bank will release itsfirst policy decision since raising the inflation target to 2% earlier this year.month.
Bitcoin love
Bitcoin has stabilized around the $32,000 mark after comments from ElonMusk, Jack Dorsey and Cathie Wood gave the cryptocurrency a boost. At the event “The BWord”, Tesla Inc. CEO revealed that his space exploration company SpaceX ownsBitcoin and that he personally bought Ethereum and Dogecoin. Wood and Dorsey from ArkInvestment Management LLC, have also given their full endorsement. The digital token hasstate mired in a slump recently, dropping below the $30,000 levelobserved earlier this week. Some, like Scott Minard of GuggenheimInvestments, expect things to get worse.
Virus
Joe Biden urged more Americans to get vaccinated, saying the coronavirus is onlyattacking those who have not received their vaccines and that children under 12 maybe vaccinated “soon”. The president had previously criticized Facebook Inc. for helpingspread misinformation, with the unvaccinated citing a litany of myths toexplain your hesitation to receive injections. The delta variant now accounts for more than80% of cases in the US. China, however, backed off against the World Organization’s appealfor another investigation into the origins of the pandemic, which includes examining whetherleaked from a laboratory, saying there is no evidence for the theory. The researcherssuggest that the actual number of Covid deaths in India may exceed the official count.in millions
Markets go up
Global equities are set for the biggest three-day rally since April inAs the strong gains outweigh the pessimism of the virus. Overnight, the indexMSCI Asia Pacific rose 0.9%, while Japan’s Topix index closed 0.8% higher.In Europe, the Stoxx 600 Index rose 0.8% at 6:40 am EDT, with shares intravel and leisure leading the gains. S&P 500 futures pointed to an increasemodest at the opening, the 10-year Treasury yield was at 1.28%, oilit hovered close to $70 a barrel and the gold plummeted
Coming
Weekly unemployment data is delivered at 9:30 am, with economists predictinga slight drop in initial and ongoing claims. Home Sales Numbers existing for June follow at 11am. It’s another big day for corporate profits, withTwitter Inc., Intel Corp., AT&T Inc., American Airlines Group Inc., Snap Inc., and The BlackstoneGroup Inc. all reporting
Source:https://wintrademarkets.com/
