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The Big Turn: News Digest by LH-Crypto

10/24/2022
|
  • USA
  • China
  • Fed
  • markets
  • LH-Crypto
News list

Prices Vanish With Gas, Last Chinese Warning, USA: Is It the Turn of the Market? - read in the new market-news digest by LH-Crypto.

Prices Vanish With Gas

Little time passed since Nord Stream explosions, and yet the gas was struck by other news: it is… warm in Europe.

Yes, unexpectedly for everyone, help to the Europeans, who were afraid to freeze from a lack of Russian gas this winter, came from Mother Nature: in Europe, as forecasters say, it is abnormally warm for this time of year. And forecasts say that this is for a long: temperatures above the average seasonal norm can will stand for at least a month.

As a result, gas prices collapsed everywhere at the beginning of a new trading week, reaching as much as 15% at the moment. In Netherlands, one of Europe's largest gas hubs, the spot price has almost broken through the "psychologically important" level of $1,000 per 1,000 cubic meters.

As for the “Streams”, yes, we can already say with confidence that this was an undermining, although the Swedes and Danes investigating the incident surprised the whole world by saying that they would classify the results. However, who needs it, will know.

Prices Vanish With Gas

Last Chinese Warning

This weekend in China - already by far the largest economy in the world - an event happened that determined the fate of the country and, almost, the planet - the Congress of the CCP, the Communist Party of China.

Those of our readers who are older still remember how Hu Jintao was at the steering wheel of the country, and the day before yesterday this once most powerful man in the country was taken away from the meeting as undesirable to the current leader Xi Jinping. Comrade Xi himself was successfully re-elected for another term, which shocked the Chinese stock market: business, especially medium- and small-sized, are afraid that the “crackdown” under the current course will continue not only in the party elite, but also in the economy.

So, Alibaba and Tencent, which were not feeling well, collapsed even lower. Which, however, cannot but be a great moment to buy, because everything is in okay with China, in fact: the country's GDP, according to fresh data, grew in the third quarter by 3.9% compared to the same period last year, which is significantly higher, than the expected 3.4%.

Last Chinese Warning

USA: Is It the Turn of the Market?

Well, while the Chinese stock market is falling, the ever-rival on the other side of the ocean, American stock market - is growing like on a swing. The optimism in traders was sparked by the President of the Federal Reserve Bank (FRB) of San Francisco Mary Daly, saying that the US Central Bank should start discussing slowing down the pace of raising the interest rate.

And, although this statement was not even made officially, at a conference of the Fed itself, but simply at an event at a local university, it fell on fertile ground: at the end of the trading session on Friday, the main indices jumped up to 2.5% percent, which is very good in recent months. In addition, more than 70% of company reports for this season exceed expectations, and a slowdown in interest rate hikes could give traders a second wind. However, another problem already arises there: how can the market not overheat at the same time ... But this will be the topicl for new releases of market news from LH-Crypto.

USA: Is It the Turn of the Market?

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