To The Moon

KEY POINTSWhile acknowledging that progress has been made, the central bank leader said inflation is still above where policymakers feel comfortable.The speech resembled remarks Powell made last year at Jackson Hole, during which he warned that “some pain” was likely as the Fed continues its efforts to pull runaway inflation back down to its 2% goal.Federal Reserve Chair Jerome Powell on Friday called for more vigilance in the fight against inflation, warning that additional interest rate increases could be yet to come.While acknowledging that progress has been made, the central bank leader said inflation is still above where policymakers feel comfortable. He noted that the Fed will remain flexible as it contemplates further moves, but gave little indication that it’s ready to start easing

The U.S. producer price index (PPI) in July increased more than expected, the Federal Reserve interest rate concerns, the U.S. Treasury interest rate rose, dragged down technology stocks, semiconductor stocks were all over the ground, Nvidia fell more than 3.6 percent. Chevron (CVX)$and Merk led the way, only the Dow narrowly closed higher. The VanEck Semiconductor ETF $Semiconductor Index ETF-HOLDRs(SMH)$fell 5.2% for the week, its worst week since October 2022.In terms of data, the U.S. Labor Department released data showing that the producer price index (PPI) increased by 0.8% in July, higher than the market expectation of 0.7% and revised 0.2%; Excluding volatile food and energy, core PPI rose 2.4 percent in July from a year earlier, above mark

I think it is really risky to invest in Chinese stocks in the current climate. There I said it! When I mention “Chinese stocks”, I refer to stocks from both China and Hong Kong exchanges. Both China and Hong Kong economies are in a doldrum to put it mildly. This alone makes investment risky, when any economy is faltering due to many reasons. If you have been keeping up with the news coming out from China, you will concur too. (1) Property Market Crisis. China property market is facing a major crisis. Many developers (state backed and private) are roiling the nation’s dollar-bond market and adding to concerns about the health of China, the world’s second-largest economy. This includes Country Garden (latest developer) seeking delay payment (for another 3 years) on a private onshore bond f