Latest Finance-Economy News
U.S. February CPI Data Awaited as Key Market Driver
Investors anticipate U.S. February consumer inflation data today, which could significantly impact S&P 500, Treasury yields, and the dollar. A softer-than-expected CPI may boost growth stocks and tech sectors, while higher inflation could strengthen the dollar and pressure overvalued companies. European corporate earnings also in spotlight.
Oil Prices Volatile After Middle East Supply Scare
Brent crude surged above $119 per barrel intraday before settling near $87.80 amid Hormuz Strait tensions, raising inflation fears. Even brief spikes affect gasoline, diesel, and shipping costs, potentially complicating Fed's inflation control. Supply risks persist with 1.9M barrels/day refining capacity offline.
Asian Stocks Rise on Oil Release Reports
Asian markets climbed following reports of huge oil releases amid ongoing uncertainties from conflict-driven inflationary pressures. Crude remains significantly higher year-over-year, worsening inflation outlook and pressuring global bonds including Treasuries.
OPEC Monthly Oil Market Report Due Today
OPEC's monthly oil report and EIA U.S. crude inventories are key today, influencing commodity markets alongside CPI. Oil shocks could support real assets in inflationary environment but face dollar strength headwinds. API showed -1.7M barrel stock change prior.
U.S. Federal Budget Statement Expected at -$170B
U.S. monthly budget statement forecast at -$170B, highlighting fiscal outlays and borrowing needs amid debt maturities. Concerns over greater fiscal spending simmer for Treasury traders. Previous was -$75.85B.
Stocks Face Potential Panic from Inflation Data
Markets brace for volatility with S&P 500 futures around 6700 and Nasdaq-100 at 24600 per prediction markets. March seen as high-risk for panic if CPI surprises on upside amid oil shocks.
Oracle Plans Job Cuts to Fund Data Center Expansion
Oracle reportedly cutting thousands of jobs to sustain massive capex on data centers, as addressed by CEO in earnings call. Reflects tech sector cost pressures amid AI investments.
China's Two Sessions Conclude with Economic Plans
China's National People's Congress and CPPCC sessions close today, ratifying work report and advancing five-year plan to 2030. Focus on growth prospects amid global uncertainties.
Trump Warns Iran on Hormuz Mines as Oil Eases Below $90
Former President Trump warns Iran against laying mines in Strait of Hormuz, as oil prices dip below $90 post-spike. Heightens geopolitical risks for global energy trade.
Central Banks Eye Rate Hikes on Inflation Pressures
ECB pricing in rate turns this year due to oil-driven inflation; global central banks may follow, reducing U.S. dollar momentum. Conflict uncertainties threaten growth and bonds.
U.S. Initial Jobless Claims Forecast at 217K
Weekly U.S. initial jobless claims expected at 217K, providing labor market insights ahead of CPI. Previous was 215K, signaling steady conditions.
Canadian Inflation Data and BoC Decision Loom
Canada's inflation rate YoY at 2.3% prior, with core at 2.6%; BoC rate decision upcoming. Impacts commodity currencies amid oil volatility.