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Home Business

Stock Futures trade higher ahead of the key inflation reports.

Crude oil remains under $100!

Harry King by Harry King
August 3, 2022
in Business
0
Crude oil in The USA
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According to Fox Business, Stock Futures trade higher than the critical inflation reports. The consumer index price is expected to rise by 1.1 %, keeping inflation at a 40-year high.

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As per the suggestion of The significant futures indexes, an overall 0.3% gain can take place with the beginning of trading on Wall Street. It is also quite possible that the consumer price would rise up to 1.1% (month over month) in June. This ratio is higher than the 1.0% rise in May but lower than the 1.2% spike in March.

From a year-over-year point of view, prices can rise up to 8.8% in June, it would be higher than the 8.5% gain of the month of May which was considered the highest since 1981. Factoring out Volatile food and energy cost can result in anticipation of 8.6% for the third month in a row.

Stock futures trade
Brent crude oil went around $99 per barrel

Oil prices have also rebounded on Wednesday, but they remain under $100/barrel. Crude oil was traded at $96/barrel. Brent crude futures were trading at the price of 99 dollars/barrel.

Tokyo’s Nikkei 225 contributed 0.5% in Asia, the Hang Seng in Hong Kong fell over 0.1%, and the Shanghai Composite Index of China gained 0.1%. The problems continue to arise amidst inflation, and people are looking for an answer from Joe Biden.

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