Beat the Street: Investors eye US inflation; oil; BofA outlook; Eli Lilly
The state of the US economy, where interest rates and inflation are headed keeping investors wary of making big bets.
Significant tech outflows have been reported, shows Bank of America Global Research. Plus, Eli Lily’s diabetes drug gets the UK green light.
US inflation and tech industry concerns
Global investors' cautious approach due to awaiting US inflation data and its impact on interest rates. Concerns about the tech industry's recent decline. Positive news for the pharmaceutical industry with the approval of a diabetes drug from Eli Lilly in the United Kingdom.
Economic uncertainty and market hesitancy
Weak economic data from China contributing to global economic uncertainty. Concerns about prolonged high-interest rates and the challenges faced by the Federal Reserve. Worries about the Chinese economy and potential stimulus measures.
US dollar and Apple's stock
Price Senior market analyst Axel Rudolf discusses the strengthening US dollar, its impact on currencies, and China's restrictions on iPhones affecting Apple's stock price. Tension between China and the US, Apple's product unveiling timing, Bank of America's research on tech stocks, outlook for oil prices, the US dollar, yields, and tighter financial conditions.
Eli Lilly's
Details on outflows from equity funds, tech stocks, and Eli Lilly's diabetes drug approval. Mention of Kroger's earnings and opioid claims against the company. DocuSign's second-quarter results, GameStop's investigation by the US Securities and Exchange Commission, Chevron's liquefied natural gas projects strike in Australia, and potential impacts on gas prices. Updates on oil prices, the US dollar, and gold prices, along with a visual overview of the market before opening.
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