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AkerBP, a Norwegian independent oil company, has made a major oil discovery in the Ingdlasir area, with recoverable reserves estimated at 96 million to 134 million barrels of oil equivalent.On August 21st, PGIM Chief Global Economist Daleep Singh stated in a report that Federal Reserve Chairman Powell may signal a more gradual approach to rate cuts at the Jackson Hole conference. Last weeks US CPI and PPI data showed that inflation remained stubbornly above 3%. He noted that the number of CPI components exceeding 4% was equal to that below 2%, a first since the inflation peak of 2021-2022. Against this backdrop, PGIM remains confident in its forecast, predicting that the Fed will have cut interest rates by a cumulative 100 basis points by next year, approximately 50 basis points below current market expectations.Futures data for August 21st: 1. WTI crude oil futures trading volume was 735,176 contracts, down 25,376 contracts from the previous trading day. Open interest was 1,919,936 contracts, down 2,885 contracts from the previous trading day. 2. Brent crude oil futures trading volume was 143,494 contracts, up 12,785 contracts from the previous trading day. Open interest was 207,416 contracts, up 1,980 contracts from the previous trading day. 3. Natural gas futures trading volume was 488,686 contracts, down 107,644 contracts from the previous trading day. Open interest was 1,621,245 contracts, up 17,475 contracts from the previous trading day.Hong Kong stocks of innovative drug concepts rose in the afternoon, Lepu Biopharmaceuticals (02157.HK) rose more than 9%, Fuhong Hanlin (02696.HK) rose more than 5%, Junshi Biosciences (01877.HK), Rongchang Biopharmaceuticals (09995.HK) and other stocks followed suit.AAC Technologies (02018.HK) fell more than 10%. The companys net profit in the first half of the year increased by 63.1% year-on-year.

Crypto Market Daily Highlights: DOGE and SOL Lead Top Ten South

Skylar Shaw

Feb 06, 2023 15:44

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The top ten cryptocurrency index had a gloomy session on Sunday. Leading the way down were DOGE and SOL. BTC dropped below $23,000 at day's conclusion for the first time in five sessions.


There were no crypto-related developments to cause BTC and the larger crypto market to decline for a second session in a row. The US Jobs Report and ISM Non-Manufacturing PMI survey from Friday resonated due to the absence of updates from FTX, Genesis, and Silvergate Bank.


The United States will likely escape a recession, according to the most recent economic statistics.


However, the Fed has flexibility to deliver an aggressive interest rate boost in March after the unemployment rate dropped to 3.4%. Investor focus will now be on the January CPI Report and remarks from FOMC members.


There are currently no US economic data to take into account for investors. The NASDAQ Composite Index and FMOC member talk will have the most impact because to the absence of statistics. Investors must keep an eye on the cryptocurrency news wires for developments on FTX, Genesis, and Silvergate Bank. Additionally, regulatory chitchat will provide guidance.


The NASDAQ mini had an impact in the last hour after Friday's NASDAQ defeat (UTC). This morning, the NASDAQ mini was down 35.25 points.


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