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On August 5th, the Dow Jones Industrial Average and S&P 500 both extended their gains to 2%, while the Nasdaq Composite rose 2.7%. The Philadelphia Semiconductor Index rose by 7%, with Arm (ARM.O) up 17.4%, Intel (INTC.O) up 10.9%, AMD (AMD.O) up 9.3%, Broadcom (AVGO.O) and Qualcomm (QCOM.O) both up over 7%, and Nvidia (NVDA.O) up 2.5%.Fitch Ratings: New U.S. student visa rules will put pressure on some universities.American Petroleum Institute (API) CEO: Approximately 7 million barrels of oil are transported through the Strait of Hormuz every day.The Federal Reserve accepted a total of $2.551 billion from three counterparties in its fixed-rate reverse repurchase operations.August 5th - According to foreign media reports, a source familiar with the companys performance revealed that Chanel achieved double-digit sales growth in the first half of the year, surpassing luxury competitors including LVMH. Chanels comparable revenue grew by approximately 16% in the first half, with its fashion division, the companys largest business, also achieving a similar level of growth. Chanel releases its annual results; data from May showed that sales are projected to grow by 1.8% to reach $19.3 billion by 2025. The source stated that Chanel achieved revenue growth in all regions in the first half of the year, with the US market leading the way with sales growth exceeding 25%. This trend continued into July; however, due to a higher base of comparison, full-year performance may be lower than the first half.

Despite an increase in US official oil stock statistics, WTI extends its rebound to near $79.00

Daniel Rogers

Dec 30, 2022 11:20

 截屏2022-12-29 下午4.54.13_1024x576.png

 

West Texas Intermediate (WTI) futures on the New York Mercantile Exchange (NYMEX) have continued their recovery move over the important resistance level of $78.50 during the Tokyo morning session. As a result of supply concerns due to a prohibition on oil sales from Russia to G7 nations and the European Union and anticipation of a recovery in demand predictions in China as a result of reopening steps, the oil price experienced buying activity around $77.00.

 

Russia has no intention of supplying fossil fuels at prices lower than those prevailing on the market, therefore oil supply is projected to remain a key concern. Without a question, western nations are actively seeking alternatives to Russia to meet their oil demand, but their reliance on Russian oil will keep them in agony in the medium run.

 

Meanwhile, the sheer velocity of reopening steps by the Chinese government in Beijing has caused short-term chaos owing to a sharp increase in the number of infections; however, Covid-19 may have reached its peak and the economy will restore its forward momentum.

 

According to a letter from Goldman Sachs economists, "For oil prices, we remain bullish on oil prices in the immediate future given the possibility for increasing China demand, and reduced supply growth from US shale due to discipline/tight service markets, and OPEC+ quota reduction."

 

The United States Energy Information Administration (EIA) stated on Thursday, for the week ending December 23, that the oil price rebounded following a short decline due to an increase in oil stockpiles. The official US agency reported an increase of 0.718,000 million barrels in oil inventories, whereas the market had anticipated a decrease of 1.52 million barrels.

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