Amazon x iRobot🤖 Stocks mixed📈 Focus: US CPI, S&P500 technicals, Oil🛢️Earnings: Disney, Palantir, Take-Two🎮

FlowBank's hand-curated fresh financial news [header_noDither] 08.08.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [shutterstock_1500731471] Amazon announced it has agreed to acquire the vacuum cleaner maker iRobot for approximately USD1.7 billion. The acquisition is part of Amazon’s bid to own part of the home space through services and accelerate its growth beyond retail. The appliance would join voice assistant Alexa, the Astro robot, Ring security cameras, and others in the smart home features. [Start Trading](113/cXx8Z04/MW5VCPkQnXgW8k1BRD1LrcsBW2H1VMy4NsDGwN2qdv1h2-MK5V1-WJV7CgY_QW17Q8ns3tjCcnW731ppl6qLRVMW4LMkpV6ZcstfW32bvpv5G2yNSVXBmMZ538g0qW9dKTCF8HYdNHM3ysmgfmLgkW1rBtwN18kzBlW4n3wwH68kvH0W3LkxgL7Y6QdMW72KR2q2Ylmz-W1ckx033HnrlwW3jtprn57g4ClW6Gttw61wwN-HW83tnJx2H3vvWW4VM9yf3YNBb_W529MKW1-Qj6NW27gwB93_b4_XVWCFBN63W8vDW4ChM1Y7jK07-3jG-1) Trader's Corner In focus this week • Much awaited US Consumer Price Index (CPI) data on Wednesday is set to dominate the week. July Core CPI is expected to decline to 0.5% month-over-month, from 0.7% in June. Traders fear a higher reading. • The S&P500 posted its biggest monthly gain in July since 2020. A 50% retracement of the decline would put the index at 4'231 (currently 4'147). • Weekly US Crude oil inventories on Wednesday could confirm whether oil demand is weakening as data suggested last week. WTI fell below its support at USD90 pb. Technical supports are around 85 and 80 dollar pb. Economic data this week • US CPI (Wednesday), PPI & jobless claims (Thursday), Michigan Consumer Sentiment (Friday) • German, French CPI • UK GDP, Manufacturing Production (Friday) • Crude oil inventories (Wednesday), OPEC report (Thursday) Earnings this week • Walt Disney, Softbank, AIG, Tyson Foods • BioNTech, IFF, Barrick Gold • Palantir, Coinbase, Take-Two • Dominion Energy, Welltower • Ralph Lauren, Netease Crypto • On Saturday, it was announced that BlackRock, an investment management company with USD10 trillion of assets under management, is offering clients direct access to crypto, starting with Bitcoin. • The sale of Tiffany’s non-fungible token (NFT) mint called “Nftiff” sold out on August 5, 2022. Nftiffs were sold for 30 Ethereum per token, and 250 of them were sold, generating more than USD12.5 million in sales. [AS] [Start Trading](113/cXx8Z04/MW5VCPkQnXgW8k1BRD1LrcsBW2H1VMy4NsDGwN2qdv1h2-MK5V1-WJV7CgT04N4QQSZJqBw3cN1-GkWgNr8QtW6p7Drm87rQb4W8H_H8t8bGY_qW57nSKx90PrkmW5BMQTB75Gg3jW6jfHpY7KjbjMW7Y0Fxj8w085vW4ZzjVd5-bFXbW1HNnQ37R5K6hW1mpSsv8zCgFmW5dbnw85y983lW3bsmkB8_F8hTW6tp_y616JhfKW506k4Q84p1xwW6jKxCq2041kNW4yYHqM1rl0Q7W4d00QP29gCZjN4p4gzzsW2kqV79MPC5Znvhq33d81) Market Recap Stocks posted another weekly gain despite Friday's fall after a surprisingly strong jobs report worried investors that the Federal Reserve may need to keep up its aggressive interest rate hikes to cool the economy and tame inflation. Treasury yields spiked, alerting investors, and the US dollar soared, while gold edged lower. Sharp falls in commodity prices, including oil, have meanwhile helped support the idea that inflation may be near a peak. This morning, markets are steady as investors are cautious ahead of Wednesday's inflation report which could suggest a more prolonged inflation fight. Oil remains below USD90 due to a mixed demand outlook. Chart Of The Day EURUSD fell on Friday after traders priced in a 66.5% chance of a 75 basis point rate hike from the Federal Reserve in September, up from 34% on Thursday. [EURUSD 05.04.2022](113/cXx8Z04/MW5VCPkQnXgW8k1BRD1LrcsBW2H1VMy4NsDGwN2qdv0_2-MJQV1-WJV7CgXTHW537vm-2gCTFnW2zZLJ62F27x0V9-MMY6JXGQ2W3fBvwk90J0qxW24Rzg15RQYHNW8nnWqr5nklL_W4JX5R18Nrv2YV-FMXk2pYfCcN7f63k28LGnkW6w4j0z2cj2pWW1hPfkd3xXxyWW8djLqw4nzmCpW623xDD71rHT7W1zlxvs67JVYYW4kKyZh6P8gkrW5lH8rN8QPFZcW47TYQZ3JQFcXN5v6SqmJgd563cMB1) FlowBank Blog Crude Oil Price: Weak Growth & Energy Rationing [old-chemical-barrels-blue-and-red-oil-drum-steel-2021-10-18-14-38-23-utc (1)](113/cXx8Z04/MW5VCPkQnXgW8k1BRD1LrcsBW2H1VMy4NsDGwN2qdv1B2-MKpV1-WJV7CgZbhW6TngC_1KtM0TVJWtCw20BDlxW34RTyZ6YJyNgW6v9Wtn4Y6B2qW5-phLz854J02W2rSCf76z4V7DW46N-Qm169cnlW7pjT6p6w1b-KW5lkLzb5klf_RW11QfV61G7TMnW2s8nMY33n2Z_V5yD5-8tC066W2XCccX3nJLzvW68q_w43Lpy7wVhm5Hr3Y8tN-N2HQlsDDlFgHW8v-ZdD3Syx04W26_N5x28tPjfW2ZpXmc1Pm8-wW6RX5xP6crkRgW4-H65G374Y18W9fhHHs92kj6n34pS1) There has been a significant breakdown in crude oil prices this week. WTI crude fell below $90 while Brent is back under the psychologically and technically significant $100 level. 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