Wall Street Today | Fed leaders, unswayed by softer CPI, see rate hikes into 2023

Moomoo Recap US wrote a column · Aug 10, 2022 19:14

MACRO

Fed Leaders, Unswayed by Softer CPI, See Rate Hikes Into 2023

Two Federal Reserve officials responded to softening inflation data by saying it doesn't change the US central bank's path toward even higher interest rates this year and next.

"I haven't seen anything that changes that," Minneapolis Fed President Neel Kashkari said, responding to a question about a Labor Department report published earlier that showed consumer prices rose 8.5% from a year earlier in July. Inflation has eased but it's 'unacceptably high,' Chicago Fed President Charles Evans said.
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Hedge Funds Face SEC Push to Share More on Their Strategies

Hedge funds would have to start giving the government significantly more information about their investment strategies under a proposal from the Securities and Exchange Commission to better keep tabs on risks to the financial system.

SECTORS

Gas Prices Dip Below $4 a Gallon for First Time Since March

The average price of a gallon of unleaded gasoline in the U.S. fell below $4 a gallon Wednesday, a 21% drop from June's peak, as demand for oil softens around the globe. The national average stood at $3.99 a gallon Wednesday afternoon, according to OPIS, an energy-data and analytics provider.

Oil Tanker Freight Rates From US to Europe Soar to Two-Year High

Daily earnings for Aframax vessels sailing from the US Gulf to northwest Europe have soared to almost $57,000 this week -- more than 12 times the level at the start of the year -- according to data from the Baltic Exchange. The tankers typically haul about 600,000 barrels of crude.

COMPANY

Disney Reports Earnings Surge, Reduces Long-Term Forecast for Disney+ Subscribers

$Disney(DIS.US)$ reported a better-than-expected 26% jump in revenue Wednesday, driven by record results at its theme parks division and the addition of more new subscribers than projected to its flagship streaming video platform Disney+. Disney shares rose about 7% in after-hours trading to $120.11.
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Apple Ramps Up Its In-House Podcasting Efforts With Studio Deal

$Apple(AAPL.US)$ Inc., stepping up its spending on original podcasts, signed an agreement with a Pulitzer Prize-winning studio and is holding talks with other companies about additional deals. The company has discussed similar arrangements with other studios and spent up to $10 million on the push so far, said the people, who asked not to be identified because the talks are private.

JPMorgan Gold Traders Found Guilty in Chicago Spoofing Trial

The former head of the $JPMorgan(JPM.US)$ precious-metals business and his top gold trader were convicted in Chicago on charges they manipulated markets for years, handing the US government a win in its long crackdown on bogus "spoofing" orders.

United Airlines Puts Down Deposit on Flying Taxis

$United Airlines(UAL.US)$ Inc. has paid a $10 million deposit for 100 electric flying taxis, a sign that the airline is growing more confident in the nascent technology.
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Source: Bloomberg, Dow Jones, CNBC

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