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Wharton professor: the Fed may scale back its bond purchases sooner than expected, which could scare the market.
Jeremy Siegel, professor of finance at Wharton, said the Fed could be forced to scale back its bond purchases faster than expected because of soaring inflation, which could spook the market. "I think inflation will be much higher than the Fed thinks," Siegel said on Thursday. I think the Fed will be under pressure not only to start to scale back-which they will announce-but also faster than the market thought. This is where I think the market will be a little surprised and challenged. " In order to prop up the economy during the COVID-19 epidemic, the Federal Reserve buys 120 billion a month.
Pre-market: investors wait for inflation report Dow futures fall 0.2%
Us stock index futures fell slightly before trading on Tuesday as investors waited for the US consumer price index (CPI) in August, a key indicator of inflation, that could affect expectations that the Fed would scale back its bond purchases. As of press time, Dow futures are down 0.2%, the S & P 500 is down 0.1%, and Nasdaq futures are down 0.2%. The FTSE 100th index in the UK fell 0.9 per cent, Germany's DAX index rose 0.5 per cent and France's CAC-40 index fell 0.9 per cent. The dollar index hovered around 92.70 on Tuesday, climbing to a two-week high against a basket of currencies on Monday.
Allianz chief economic adviser: Investors have stopped buying on dips recently, exacerbating market difficulties
Allianz's chief economic adviser Mohamed El-Erian (Mohamed El-Erian) said on Monday that he has noticed changes in investors' behavior in recent weeks, which has worsened the difficult situation the market was in in September. Investors don't seem to be used to buying on dips anymore, Ariane said. He believes that investors' buying on dips is a key factor in market resilience during the COVID-19 recovery. “Until recently, the behavioral aspects of the market were buying on dips, not having a choice (TINA), and fear of missing out (FOMO). The combination of these three mentalities allows every (market) decline to be quickly reversed,” Ellian
UK supply chain crisis Ikea is out of stock after McDonald's
Due to the shortage of truck drivers in the UK, IKEA is trying to stock up on popular products to meet the high demand from customers. Currently, 10% of products are out of stock. The Swedish furniture retail giant said the lack of truck drivers and global shipping delays have disrupted the supply chain. A company spokesperson said the shortage of products such as mattresses is affecting the company globally. Of the approximately 9,000 products currently sold by IKEA in 21 stores in the UK and Ireland, 1,000 are out of stock. The spokesperson said, “Like many retailers, our supply chain is currently under way due to the COVID-19 pandemic and labor shortages
Bank of America: us stock inflows hit a two-month high
Bank of America said clients were buying financial and property stocks after the s & p 500 rose 0.6 per cent last week and hit an intraday record high. Last week, US stock market inflows were the biggest in nearly two months, mainly passive inflows (ETF purchases), while clients sold individual shares. Inflows, mostly passive, are accelerating, driven by institutional clients, while retail investors and hedge funds are selling, the bank said.
The number of job openings in the United States jumped to a record high of 9.3 million in April.
The number of job openings in the US hit an all-time high in April, highlighting the strong demand for labour from companies as epidemic restrictions are lifted and the economy strengthens. The (JOLTS) survey of job vacancies and labor turnover released by the Labor Department on Tuesday showed that the number of job vacancies rose to 9.3 million in April, the highest level since data were available in 2000, and the March figure was revised upward to 8.3 million. The number of job openings exceeded hiring by 3.2 million in April, the biggest difference on record. In recent months, recruitment challenges have been fraught. Half of the states in the United States have announced that they will withdraw from the federal unemployment insurance plan early to encourage people.
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