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According to Nikkei, the size of Japans AI data centers is expected to quadruple by 2033, with investments reaching $60 billion.S&P: The UAEs rating remains at AA/A-1+; outlook is stable.The Dow Jones Industrial Average closed down 272.51 points, or 0.51%, at 53,413.60 on Friday, September 4; the S&P 500 closed down 29.29 points, or 0.38%, at 7,718.42; and the Nasdaq Composite closed down 77.07 points, or 0.29%, at 26,506.99.September 5th - According to the Financial Times, artificial intelligence company Anthropic is close to finalizing key roles for Morgan Stanley (MS.N) and Goldman Sachs (GS.N) in its initial public offering (IPO), with plans to release listing documents as early as next week. Sources familiar with the matter say Morgan Stanley is currently in the lead underwriters left-hand seat, responsible for IPO strategic advisory work; Goldman Sachs is expected to act as a price stabilizing agent, responsible for stabilizing trading in the early stages of the listing. Banks such as JPMorgan Chase (JPM.N), Citigroup (CN), and Barclays (BCS.N) are also expected to play significant roles in the deal. Anthropic is expected to list in New York in late September or early October, and this IPO will test investor demand for fast-growing AI companies.On September 5th, US President Trump signed a series of executive measures aimed at supporting American ranchers, including curbing the dominance of large meat processing companies in the industry and pushing for new beef labeling rules. Trump stated that the government will establish programs to help ranchers sell directly to consumers and reduce the US beef processing industrys reliance on the "Big Four" meat companies. He called this reform, which ranchers have been demanding for decades, and an important action by the government to support farmers and ranchers. Previously, the Trump administrations plan to increase beef imports to lower consumer prices sparked discontent among American ranchers. Trumps measures include requiring all imported beef to be labeled with its country of origin and urging Congress to push for permanent regulations. US Agriculture Secretary Brooke Rawlings had previously criticized the earlier beef import plan, calling it a "heavy blow" to ranchers, but she also stated that Trump is a leader who supports ranchers.

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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