Preview of the week 09May2022
Preview of the week starting 09May2022 Holidays Hong Kong celebrates National Day on 2nd May 2022 News summary (from last week) China's car sales will be down. it is partly due to COVID. let us watch as this will also spiral to insurance, financials and so forth. Following the 1000 points drop in $DJIA, record trade deficit, stubborn inflation, rising interest rates, Ukraine war, energy &#SupplyChain challenges, are we looking at US entering a recession after the decline in Q1 of 2022? One of the biggest single day decline in the market. BTC slides below $37k. #Bond intensifies the slides and Elon Musk secures funding for $TWTR. Market is unsettled because the highest rate hike of last few decades. initial #jobless claims turned out to be worse than expected 200k vs 182k US QoQ unit labor cost is up 11.6% vs 9.9% expected. Non-farm #productivity QoQ has dropped 7.5% vs 5.4%. cost increased, lesser productivity & increased jobless claims should be bearish for US GDP. US bigg...