Stock market timer: Oil falls to its lowest level since the beginning of the year

The pessimistic sentiment is not dissipating from the stock market.

After a fairly volatile trading session, the S&P 500 index fell 0.41% yesterday, although it fell much more at the start of the session. The technology sector’s NASDAQ fell 0.74%. Revised August Industrial and Services PMI values ​​in the US show that the situation in both sectors is worse than previously reported estimates. In Germany, factory orders fell 1.1% from July. – 0.4% point more than expected.

Tomorrow, the data for newly registered unemployed will be published within the week. L. Truss, who won the election to lead the Conservative Party in the UK, announced the first members of the Cabinet of Ministers. The country’s new prime minister has promised a massive support package to tackle rising energy prices. According to anonymous sources cited by Bloomberg, 200 billion will be allocated for this purpose within a year and a half. pound sterling.

Asian exchanges are dominated by sellers this morning – 8:45 am. Lithuanian time, Japan’s NIKKEI -0.55%, Hong Kong’s Hang Seng -1.71%, South Korea’s KOSPI -1.59%. A group of members of the United States House of Representatives are due to visit Taiwan today, which is expected to further escalate the conflict with China.

The price of Brent crude oil fell 1.62%. – up to 91.33 US dollars per barrel. Oil hasn’t been so cheap since February. top The US dollar rose 0.25% against the euro yesterday to $0.99 per euro. The Bloomberg US Dollar Index rose 0.47%. Against a basket of major currencies, the dollar hit its highest level since 2005, when this index began to be calculated. The US currency is bolstered by decisive statements from Fed members regarding the further tightening of monetary policy and the increase in the risk premium in the market.

Investors have not taken active action in the stock exchanges of the Baltic countries. Yesterday’s trade was slow – 50 thousand. Trade turnover in EUR was exceeded by seven companies, exceeding 1%. there was no price change between them. The most actively traded stocks were “Enefit Green” (-0.40%) and “LHV Group” (-0.15%). Ignitis Group (-0.11%) announced the signing of a contract to acquire wind and solar farms in Latvia. The planned start of the construction of the park is in 2025-2026, the estimated total capacity is 200 MW.

Source: The Delfi





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