Global Market Trend As Of July 21st, 2022

Analyst's Views
U.S. stocks were traded higher on Wednesday as investors awaited earnings reports from companies including Tesla due after the bell. Netflix shares continued to gain Wednesday after the streaming giant lost fewer subscribers than expected. 

"People are looking at the earnings season right now and the reality is that it is less bad than people thought," Kalvaria told host Maria Bartiromo. 

"So from an earnings standpoint, people are getting comfortable with what I call the ‘new normal.’" "And until we see some stabilization we will probably have a more volatile market." 

Inflation, the Labor Department revealed last week that inflation accelerated more than expected to a new four-decade high in June as the price of everyday necessities remains painfully high, exacerbating a financial strain for millions of Americans. 

The department said last Wednesday the consumer price index, a broad measure of the price for everyday goods, including gasoline, groceries and rents, rose 9.1% in June from a year ago. Prices jumped 1.3% in the one-month period from May. Those figures were both far higher than the 8.8% headline figure and 1% monthly gain forecast by Refinitiv economists. 

Price increases  Energy prices rose 7.5% in June from the previous month, and are up 41.6% from last year. Gasoline, on average, costs 59.9% more than it did one year ago and 11.2% more than it did in May. The food index, meanwhile, climbed 1% in June, as consumers paid more for items like cereal, chicken, milk and fresh vegetables. 

Rate Hike, the Federal Reserve has been raising rates as a way to try and tame red-hot inflation. On Friday, Fed officials signaled they will likely stick with a 75-basis-point rate increase at their July meeting next week, although the recent inflation data could still warrant larger increases than anticipated later this year. 

SPOT MARKET  BY THE HOUR AS OF GMT 09:03  07-21-22