Economic data brings down the post-pandemic optimism.
Crude oil prices keep sliding for a seventh session straight, as on Friday it neared three-month lows, heading for a weekly loss of 7%. It was caused by new lockdowns that followed surging cases of the Delta strain across the world and coincided with the recent risk aversion among investors.
Nvidia was up more than 1% in Friday’s premarket trading after the reveal that US House Speaker Nancy Pelosi bought the company’s stock and call options. This outweighed concerns over the UK watchdog’s antitrust warning on the Nvidia-ARM deal.
German stocks were declining after a bigger-than-expected jump in producer prices, with major index DAX falling 0.6% as data showed producer prices jumped 10.4% year-on-year in July, instead of predicted 9.2%.
Goldman Sachs experts lowered their economic growth predictions on the US for the third quarter, as the Delta variant of COVID-19 impacts the consumer spending and production rates. The estimate was lowered from 9% to 5.5%, but the forecast for the fourth quarter was raised in turn.
Reuters poll has found that the already strenuous housing situation in Australia might become even worse thanks to super-low borrowing costs and a lack of available homes in the country. This happened due to the Reserve Bank of Australia slashing its interesting rates while the housing construction temps in the country remaining low, creating a deficit.
|Apple is in hot waters globally, as its latest plans to use scanning software on iPhones to detect illegal content sparked massive debates, dropping its stock price by almost 4 points.|
|Nvidia demonstrated excellent financial results this earnings season and used the attracted attention to announce its new service, Nvidia Omniverse, attracting even more investors.|
|Baidu raised over $1 bln in ESG bond offering after showing its latest developments in AI technology.|