Global market:Federal Reserve Chairman Zerome Powell is getting excited in the global markets due to the indication of cuts in rates from next month. The gift Nifty rose by about 100 points. Asia is also doing strong work. On Friday, there was a jump of about 2 percent in American Indices. Nasdaq 400 then Dow Jones 800 points jumped.
The condition of American markets
The US markets closed with an edge on Friday. The statement of the fed chairman accelerated. Russell reached 2000 at a height of 2025. All tech stocks got rapid support. 75% of people are expected to decrease rates in September.
PCE inflation figures will come on Friday. The statistics of the Initial Jobless Claim will also come this week.
What did Powell say in Jackson Hole?
Fed Chairman Jirom Powell indicated the rate cuts. The risk of decline in jobs has increased. Both supply and demand of employees are decreasing. The effect of tariff is clearly visible on the consumer price. The impact of prices may be seen on inflation for a long time. Base Case- The effect of tariffs will be impacted for a short period. One time does not mean that all the cuts will be done at once.
Russia-Ukraine War deepened?
Ukraine attacked Russia with a drone. The attack caught fire in the Novatech fuel terminal. Russia destroyed 10 Ukraine drones. Drone debris fell on the Kursk Atomic Power Plant. The crucket atomic power plant to the south of Russia is. Russian oil supplied to Hungary, Slovakia stopped.
Trump vs Cook
Trump said Lisa Cook should resign from his post soon. If I do not resign, I will remove it. Right now the Governor of Fed is Lisa Cook. Lisa Cook’s term will end in 2038. Fed governor can be removed as the reason. Section 10 of the Federal Reserve Act provides.
Asian market
Meanwhile, business is being seen with an increase in Asian markets today. Gift Nifty is showing a gain of 100 points. At the same time, Nikkei is seen around 42,849.00 with a gain of about 0.51 percent. At the same time, the Straight Times is showing a growth of 0.07 percent. Taiwan’s market is trading at 2.29 per cent to 24,307.89. While Hangseng is seen at a level of 25,813.00 with a gain of 1.87 per cent. At the same time, Kospi is trading with an increase of 0.97 percent. At the same time, Shanghai Composite is seen at 3,863.30 with a gain of 0.98 percent.