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On May 27th, it was reported that customers of the US online brokerage Robinhood will soon be able to instruct an AI agent to trade stocks on their behalf. According to a statement released by the company on Wednesday, customers can create an "agent trading account" completely separate from their standard investment portfolio. The AI agent can only use funds deposited by the customer into this account. Investors can instruct the AI agent to build a diversified portfolio from scratch or adjust its holdings based on market opportunities. Additionally, Robinhood Gold credit card holders can also have the AI agent help with shopping, but they must first set a monthly spending limit and choose whether to enable human approval. For example, cardholders can set reminders for the agent to make reservations at popular restaurants when they become available, or have the fashion-conscious agent search for their favorite handbags online and automatically purchase them if the price is below $2,500.On May 27, Damai Entertainment (01060.HK) announced that for the year ended March 31, 2026, it achieved revenue of RMB 8.024 billion, a year-on-year increase of 20%; net profit attributable to owners of the company was RMB 705 million, a year-on-year increase of 94%; compared with the net profit attributable to owners of the company of RMB 364 million in the same period last year.On May 27, US officials revealed to the media that the US Department of Defense has drafted a list of targets within Iran in preparation for a possible resumption of military action against Iran by President Trump. However, sources analyzed that launching a new strike would be more difficult than before. According to NBC News, the Pentagon is considering naming the potential renewed military operation "The Hammer," targeting nuclear facilities already attacked by US airstrikes last June, including the Natanz and Isfahan facilities. The US military may also target Irans strategic oil facilities on Kharg Island, as well as power plants, military command centers, and communication facilities. According to informed sources, many of the targets already attacked in Iran are considered "easy targets" because they are "either stationary or not deeply buried in bunkers." However, targets such as missile launchers and drones are now more concealed and difficult to approach, making them more difficult to locate and precisely strike than before.May 27th - Influenced by falling oil prices and declining inflation expectations, traders are currently betting that the Bank of England will only raise interest rates once this year. The money market is currently betting on a cumulative 36 basis point rate hike by the end of the year – the lowest expected level in over a month. According to swap contracts linked to the policy meeting date, this expectation is equivalent to a 25 basis point rate hike, with the probability of another hike now less than 50%. Because the UK is highly dependent on imported energy, its economy is extremely vulnerable to the shocks of war; therefore, traders expect that a swift end to a conflict would help further alleviate the pressure on the economy. Just two weeks ago, the market widely expected the Bank of England to raise interest rates twice this year; and in the weeks following the US and Israels attacks on Iran, market expectations even reached as high as four rate hikes. Currently, traders believe there is about a 50% probability that the first rate hike will occur in July. Last week, Bank of England Governor Bailey stated that UK inflation expectations have not "gone off-track"; previously released data showed that UK price growth slowed to its lowest level in over a year in April.United Airlines, American Airlines, and Delta Air Lines shares rose about 2% in pre-market trading.

WTI struggles at $87 as recession worries probe OPEC's forecast and supply deficit fears intensify

Daniel Rogers

Sep 14, 2022 11:42

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After reverting from the weekly high, WTI crude oil traders seek clear direction around $87.50 during Wednesday's Asian session. However, the present hesitation in the price of black gold may be attributable to the mixed concerns regarding the demand-supply matrix.

 

The Organization of the Petroleum Exporting Countries (OPEC) indicated in a monthly report that oil consumption will climb by 3,1 million barrels per day (bpd) in 2022 and by 2,7 million barrels per day (bpd) in 2023, which is unchanged from last month. Despite obstacles such as rising prices, the news also highlighted indications that major economies were performing better than projected.

 

The news that the United States intends to replenish its emergency oil reserves, as well as the German and European move to control Russian oil and gas prices, could also be favorable for energy prices. In addition, rumors that the Western oil deal with Iran is a long way off are bolstering fears of a supply bottleneck and should have helped energy bulls.

 

Tuesday's US inflation statistics revived concerns about the Federal Reserve's fast rate hike and exacerbated recession concerns. Also acting as downward drivers for WTI crude oil are expectations of economic slowdown due to China and Russia-related concerns.

 

In spite of this, the US Consumer Price Index (CPI) for August increased by 8.3% year-over-year, surpassing market expectations by 0.1%. However, the monthly data increased to 0.1%, exceeding the -0.1% projected and the 0.0% shown in previous assessments. The core CPI, or CPI excluding food and energy, likewise exceeded the 6.1% consensus and 5.9% prior to printing at 6.3% for the month in question.

 

It should be mentioned that the weekly prints of the American Petroleum Institute's (API) industry inventory report also contributed to the commodity's downfall. The API Weekly Crude Oil Stock climbed to 6,035 million during the week ending September 9, up from 3,645,000 the previous week.

 

In the future, the price of black gold may stay under pressure due to a stronger US dollar and economic troubles. Before today's official weekly inventory data from the U.S. Energy Information Administration, however, the supply crisis concerns could test the bears (EIA). Thursday's US Retail Sales for the month of August and Friday's preliminary reading of the September Michigan Consumer Sentiment Index will also warrant close attention.

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