Biden-Powell Meeting, EU Russian Oil Ban, Eurozone CPI - What's Moving Markets

U.S. Opening Bell: Surging Oil Prices Send Stocks, Bonds Lower; U.S. Dollar Up

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📚 Daily Digest  |  Tuesday, May 31, 2022     Biden-Powell Meeting, EU Russian Oil Ban, Eurozone CPI - What's Moving Markets   © Reuters. Oil prices rise again as the European Union finally nails down its plans for banning imports from Russia. Eurozone inflation, meanwhile, accelerated in May to hit a new record high of 8.1%. President Joe Biden is due to meet with Federal Reserve Chair Jerome Powell, while Nelson Peltz has found a board seat at yet another consumer staples company. China's economy looks set to pull out of its COVID-induced dive, as lockdowns are lifted in Shanghai. Here's what you need to know in financial markets on Tuesday, 31st May. Read More     Today's Top News Stock Markets These Investors Say Nasdaq's Bear Market Has Legs The drubbing global technology stocks have seen this year may be far from over. That's the message from many strategists and fund managers, who expect this year's rout to deepen in the near term as the Federal Reserve aggressively tightens monetary policy to fight inflation, raising the specter of a recession. Stock Markets 5 Wall Street Strategists Discuss What's Next For S&P 500 S&P 500 futures are down Tuesday morning after a relief rally took place last week. Dow Jones futures lost 64 points in early Tuesday trade, or 0.19%, while S&P 500 futures were down 0.2%. On the other hand, Nasdaq 100 advanced 0.08%. Commodities EU agrees gradual Russian oil embargo, gives Hungary exemptions European Union leaders have agreed an embargo on Russian oil imports that will start kicking in towards the end of the year and which exempts, for now, pipeline imports that Hungary and two other landlocked Central European states rely on. Economy ECB should stick to gradual withdrawal of stimulus, rate hikes, ECB's De Cos says The European Central Bank should stick to a withdrawal of its stimulus and proceed gradually with interest rates hikes in July and September, ECB policymaker Pablo Hernandez de Cos said on Tuesday. Economy Euro zone inflation hits new record, adding to case for big ECB rate hikes Euro zone inflation rose to another record high in May, boosting government bond yields as markets saw the data as a challenge to the European Central Bank's view that gradual interest rate increases from July will be enough to tame fast price growth. Read More News » Today's Top Analysis     May 31, 2022 by Pinchas Cohen U.S. Opening Bell: Surging Oil Prices Send Stocks, Bonds Lower; U.S. Dollar Up   by Pinchas Cohen  |   May 31, 2022   May 31, 2022 by Andy Hecht Energy Sector ETF Riding High Despite Strong U.S. Dollar And Rising Rates   by Andy Hecht  |   May 31, 2022   May 31, 2022 by Brenda O'Farrell Revenues For Cannabis Grower Canopy Drop Right Along With Its Stock Price   by Brenda O'Farrell  |   May 31, 2022   May 31, 2022 by Vincent Martin Down 90% From The Highs, Peloton Stock Still Looks Risky   by Vincent Martin  |   May 31, 2022   May 31, 2022 by Haris Anwar Why Apple Shares Should Be Part Of Your Retirement Portfolio Now   by Haris Anwar  |   May 31, 2022   May 31, 2022 by Tezcan Gecgil In Wake Of SNAP's Post-Earnings Plunge, 2 Social Media ETFs To Buy On The Dip   by Tezcan Gecgil  |   May 31, 2022 Read More Analysis »

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