Disney shines📺 Stocks surge📈 To watch: S&P500 Index👀 PPI⚠️ EURUSD📊 Earnings: Illumina, Rivian 🚚

FlowBank's hand-curated fresh financial news [header_noDither] 11.08.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Disney] Disney reported a stellar earnings report, sending its stock up ∼7% in after-hours. Spending increased at its US theme parks and Disney+ subscriptions rose to 152.1 million last quarter, higher than the 147 million expected. Investors also welcomed the news that Disney+ prices will be increasing by 38%, a positive for the whole streaming industry. [Start Trading](113/cXx8Z04/VVDqRr1PHh0lW7wXDbV1qcH0SW5LNP254NB2LkN5bb0hm2-MK5V1-WJV7CgL8fVyGBkL4t6GdfVzRf_63SQWMrW7sgC-47nc_GWW7lsyDV2f0cB3W2r9Pfx7DrxbpW7zZnvJ1NjVZRN8JzdY-GtmGsW6YTkt17DD77JVkwz-03Jg-hsW1HWJWB7kG98SW1-3q7c1pgVq4W3k-rwp7pXshSW4GSGxK8H4-0PW8C_6fq7zlNX7VN1pmz58MmXLVlKY--8NzhhHW1bWbZP3Gytt6W30rQwB2vTSq0W8cCYPJ1SyCBTW2wsB-K708jf83gDr1) Trader's Corner In focus • The US Producer Price Index (PPI) will set the tone for investors' mood, following the lower-than-expected CPI figure. Inflation data will continue Friday with import/export prices and the Michigan expectations survey. • The S&P500 Index (4'210) surged above 4'175, an encouraging sign investors are comfortable buying the dip after the favorable CPI data. Resistance stands at roughly 4'300, a level not reached since early May. • The dollar fell across the board as traders reduced Fed rate hikes expectations. EURUSD (+0.8%) reached its highest in a month, also supported by the oil pipeline re-opening. Resistance stands at ∼1.04. Economic data • US PPI & Jobless claims • China new loans Earnings • Zurich insurance, Deutsche Telekom • Cardinal Health • RWE, Siemens • Illumina, Rivian • Daimler Truck Crypto • Crypto assets surged following the risk-on rally, with Ethereum jumping 8% above USD1'800. Its next resistance is close, at around USD2'000. • Coinbase is reportedly betting big on staking, ahead of Ethereum's "Merge". The company considers its "staking" products for ETH to be an "early win", which it began to offer in early August for institutional clients. [11.08] [Start Trading](113/cXx8Z04/VVDqRr1PHh0lW7wXDbV1qcH0SW5LNP254NB2LkN5bb0hm2-MK5V1-WJV7Cg-6XN1zyZWNgglf_W6wvw8p4vhGwYW29lc4R7g1jVDW2_SK6-542pzzW4Rry-V8K4DdJW6db_rg4MdHLVW89vgrY5lv1p8W5QkCb36Z8zW9W7P_-tt3nBBDhW8Gh-m82pz0myW8LxzmF4zB_ccW52lYJB7tVjx1W3LdzY33qBD0QN34Bs2WnwqfGW79784R7JL2W5W4THPLv388pqsW7hwV7j50Dqn8W3CM-X27HxJzHW81BQ1813G5ChN8zT-P6XF-mq3hKs1) Market Recap Stocks jumped following a lower July US CPI reading than anticipated and as China ended its military exercises. The S&P500 reached its highest level since early May, with mega-cap tech stocks outperforming. The dollar sank as traders pared back bets the Fed will hike interest rates in September to 0.5% from 0.75% previously. A 50bps hike will take rates to 3% by September. The EURUSD jumped 0.8% to 1.03, and oil rose above USD91pb despite rising weekly inventories. This morning, stocks futures are advancing ahead of US PPI data and jobless claims. Bets that the Fed could pivot to a shallower pace of interest rate hikes are rising, acting as a positive tailwind for risky assets. Chart Of The Day The Nasdaq gained 2.8% as the US Consumer Price Index (CPI) came lower than expected at 8.5% year-over-year in July, a high number but lower than the 8.7% expected, and 9.1% recorded in June. Core CPI is still high at 5.9% versus 6.1% expected, a reassuring number for investors who are now pricing the Fed to hike rates by 0.5% in September, versus 0.75% previously. [Nasdaq 10.08.22](113/cXx8Z04/VVDqRr1PHh0lW7wXDbV1qcH0SW5LNP254NB2LkN5bb0h32-MJQV1-WJV7CgV06W6bqxSJ46SjmMW2_NlXK5XVM3jW2qsVrd72Ht9JW6wYn785HrCKzV6fm2J62hPS7W62Y9s81VDqSmW6Ddbhv2-h9PPW6Jb90M6jL9hDW5667-86VGg3PW6jCf3P1zKJmYW3D3lNc6kYVDFW2WVpQp6f74fJW2nPZh_2Pr1_9M3-lFwchNkpN3QNHJyXnMHgW2MM_fj8TGZjZN2sfWvMdKhZGN1PqQnmS9lHl3nxy1) FlowBank Blog If the US sneezes. [US Economy](113/cXx8Z04/VVDqRr1PHh0lW7wXDbV1qcH0SW5LNP254NB2LkN5bb0hm2-MK5V1-WJV7CgVzcW6n6hcj2bVFq4W6-yKDH3Kv-w4W2xFhD66N2dTZW6L0l4B2hZDvLW2TV9gc5m3LdlW8JTgWw3GHZ4jVKQvv42_3Km9W6gHNgZ6qrGqTW189_YG8mpKQpN4K_pmdXmp5VW4rpbjX65mMX0W7lKcs55044lLN4cQX7c-VYN8N5cLY1SjGRvPW7pJjl08M9qTPW4xGwqw1CPMNCW6LCmph89c5M-W30Nd8y59d-TnW6D24Bs64m_5RW3V47Xd3s19jt32Z51) With a second consecutive quarter of negative growth, the question of a US recession is becoming a hotly debated topic. But, in our view, it would be hasty to declare defeat. Indeed, if you look more closely, you see a much more nuanced - and resilient - economic landscape than the official GDP figure indicates. 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