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Amidst a backdrop of escalating tensions, surging oil prices, and impactful U.S. bank earnings reports, BNY Mellon’s Bob Savage encapsulates the prevailing market sentiment as “pantophobia.” The strategist observes an “orderly unwinding of optimism,” especially following Thursday’s consumer price data. Annual U.S. consumer prices stand firm at 3.7%, while core metrics dip to 4.3%. Savage highlights the dominance of service sector inflation in both the U.S. and China, with the latter recording a 1.3% rise in service inflation. The ongoing challenges with the economy and the risk of recession, investors are invested but fearful. Amidst this geopolitical jigsaw, oil prices saw a 3% rise, while gold reached three-week highs. #CPI #USConsumerPrices #Inflation #stocks #stockmarket #OilPrices #Gold #oil
Timestamps:
What’s Happening Right Now in Stocks? 0:00
Something Could Break Here 7:29
What Investments Are Good Now? 9:30
What Can I Do? 11:30
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