Nike reveals mixed picture 👟 Stocks tumble 📉 US & EU inflation🚦 Michigan inflation🔮 Energy stocks x OXY 🎢

FlowBank's hand-curated fresh financial news [header_noDither] 30.09.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [Nike sneakers] Nike topped earnings estimates, with quarterly revenue up 4%. But, net income dropped by 22% to USD1.5 billion as the sneaker giant continues to face supply chain challenges and rising costs. Demand remained robust despite sales suffering in China impacted by Covid restrictions. [Start Trading](113/cXx8Z04/VXgVht6Q1c9bVk4gw84ZtPK2W5VG-2S4QzcrCN8JCsD72-MK5V1-WJV7CgPVlW4Y3d2M4h5DcbN6wnHF1BhymZW9dmRbq5b8-wTW2srDsP8CNw4vW84Ms013fNXJPW4sc6Cn5yhbmnW1ShM4k8hg3zVW7cXMnh3XzK0CW4vDTsn9bcdSHW3Wh0HZ637pqJW5Q24z32B9hGzW36qmbt34JwByW1xP-tP4SbncwW13dD_F5r6Fz2N2MdqyWR_gksW85LFDY87NvbMW1mlyzf44jwZPVfgwwG1kgcBzW7hZ9FC5rqTrNW3YqW6Y3HH86031vZ1) Trader's Corner In focus • EURUSD will be in focus as the EU September headline CPI is expected to be out later this morning. The Fed's favourite inflation measure, the core PCE price index will also have the market's attention. • Inflation expectations have been among the core drivers of risk assets. If Michigan's inflation expectations reading were to surprise on the upside, stocks might experience higher volatility. • Lastly, we will be watching energy stocks. A SEC filing shows Berkshire Hathaway (BRK) bought 6 million more Occidental Petroleum (OXY) shares this week, raising Berkshire's stake in the company to 20.9%. Economic data • US PCE price index, Michigan inflation expectations, personal income/spending • EU CPI, unemployment rate • Gerrman retail sales, unemployment rate • Swiss KOF leading indicator • UK current account, GDP, business investment Earnings • Carnival Corp Crypto • Bitcoin held steady despite the severe selloff in tech and markets overall. The level of USD18'500 offered strong support in the past week. • Crypto exchange Binance moved to convert competing stablecoins to its own 'Binance USD, or BUSD'. Its market cap is ∼USD21 billion. [Table 30092022] [Start Trading](113/cXx8Z04/VXgVht6Q1c9bVk4gw84ZtPK2W5VG-2S4QzcrCN8JCsD72-MK5V1-WJV7CgCmPW4BTPXG8tP2l6W884H2q3qF3ThW3y8bzg8_1M_sW25c_fM4dwZb1V54wLD1B2PKYW3zs5QN6xQ4RjVrZ8Y262L58sW28Z14T1VJ9w4W3cqT8B7Zd4N0W1Jsr6f4yxXpQW8FngzL12KR8ZW8scBbb3B8Mb1W1TqJL77nj3jHMsnmThnQRVRW6g9M2W5PXjQCV-8rl57rq8ylW7bcqmj6kFsBSW8cyGMy7CsHwjW1Mv0Pj7dzfN1W2WK06F4JKmL33dpC1) Market Recap Stocks plunged back to June lows, as another group of Federal Reserve officials struck a hawkish tone. Apple's surprising downgrade also weighed on indices. Shares of iPhones-producer fell 5% after an analyst warned of weaker consumer demand for its popular devices. Interestingly, the dollar weakened despite better-than-expected 2Q core PCE and personal consumption numbers that suggested the Fed could stay aggressive. And in Europe, UK gilt yields rose after Prime Minister Liz Truss’s defence of unfunded tax cuts. The sterling and the euro rose. This morning, markets remain tense ahead of key inflation data in Europe and the US. The euro and oil are holding firm on their two-day advance as the dollar retreats. The pound rebounded to its pre 'crisis' level. Chart Of The Day Economic data are out and the Fed is not going to like it. Jobs market strong and PCE prices (Q2) higher. Treasury yields are ticking higher following the release. [MicrosoftTeams-image (15)-1](113/cXx8Z04/VXgVht6Q1c9bVk4gw84ZtPK2W5VG-2S4QzcrCN8JCsCS2-MJQV1-WJV7CgP_PW3PxxbF4yZqSqN3BL6QJb_HTBW2X9Z1w7Zj9HNW1CL18Y7R1CvHW5zqvLZ8NJBvwV9_G4S6sH3WPW5tzkH870X6ZTW4cfBRS6QmZ7pW5TJXvZ46-12PW6mxQVL8f9_3mW2WX9JL4B2qXTW7bwLr04ttdqBW26G3YH6VtfXcW2vZQ3R8mH9PHW3lv6Cf4lnHdSW6gspF648FgrKW7P4g411XRvypW2L8L6d1y2F57318D1) FlowBank Blog How are central banks affecting your mortgage? [Mortgage rates](113/cXx8Z04/VXgVht6Q1c9bVk4gw84ZtPK2W5VG-2S4QzcrCN8JCsCy2-MJwV1-WJV7CgLb_Vng1n83sVntrW3WwhMl2M5Fg9V-Jttm6ZBh2QW5vMgZX8nMLvNW7w8YD48VD6PDW7jMBVt7XzGSNW6csF_b7jH2SRW5Cp_Wz24XWfCW1Zk6VF8vbP4-V2RrXK5g0Q7mW8QP7sJ3Wskl7W2-p-RZ10Nx-dVPpjgB272JzHW962BXz67Bx-kN4S6-y7H9-g3W3BrBn62rB8kL34YV1) Wild currency moves and rapidly rising interest rates have added to the economic challenges consumers face. But how exactly do central banks affect your mortgage and what does the future hold? And as a homeowner, how can you navigate higher rates? 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