Wall Street Today | Surging price of everything spells stagflation, risks recessions
U.S. futures dip as commodity jump saps sentiment
U.S. equity futures slipped Tuesday and Asia-Pacific stocks wavered amid concerns that commodity costs will stoke inflation and choke economic expansion.
Shares in Australia fluctuated, futures for Japan fell and Hong Kong contracts were steady. The $S&P 500 Index (.SPX.US)$ slid 3%, the worst drop since 2020, while the technology-heavy $NASDAQ 100 Index (.NDX.US)$ shed almost 4%.
U.S. coal prices soar as war drives global commodities rally
Potential sanctions on Russia, a key supplier, have buyers around the world scrambling to line up supplies of the dirtiest fossil fuel. The war in Ukraine has roiled global markets, sending prices soaring for from oil to wheat and natural gas to nickel, exacerbating an inflationary surge for energy-consuming nations and worsening a cost-of-living crisis for millions.
Surging price of everything spells stagflation, risks recessions
The global economy is at mounting risk of stagflation and potentially more recessions as fuel, food and metal prices surge after Russia's invasion of Ukraine.
Economists at $Barclays (BCS.US)$ and $JPMorgan (JPM.US)$ are among those lowering forecasts for global growth and raising them for consumer prices. Both expect expansion about a percentage point weaker and inflation a percentage point stronger than previously.
Russia's invasion of Ukraine could cut auto production by millions of vehicles this year
Local Russian production is expected to feel the greatest near-term impact as companies suspend operations, but officials say the longer the war continues, the higher the risk of ripple effects across the automotive industry.
The crisis could worsen rising inflation and propel already record-high vehicle prices even higher.
Airline stocks slump as jet fuel surge overshadows travel rebound
Airlines trying to claw their way out of two bruising pandemic years are now facing the most expensive jet fuel costs in more than 13 years, overshadowing a recent jump in travel demand and sending shares spiraling.
"The higher fuel will more than wipe out better revenue near-term resulting in modest reductions to 1Q22 estimates," wrote MKM Partners airline analyst Conor Cunningham in a note.
Uber and Lyft drivers' take-home pay plummets as gas prices soar
Drivers for $Uber Technologies (UBER.US)$ and $Lyft Inc (LYFT.US)$ are feeling the pain at the pump as the war in Ukraine drives gas prices in the U.S. to an all-time high.
The surge has trickled down to the pump at a "staggering" pace, according to Patrick DeHaan, head of petroleum analysis at Gasbuddy, an app that helps users find and save money on gas. That's making Uber and Lyft drivers consider whether a rideshare side-hustle is worth sustaining.
McDonald's, quiet on the Ukraine war, has more exposure to Russia than other U.S. fast-food chains
U.S. fast-food chains have limited exposure to Russia and Ukraine, but $McDonald's (MCD.US)$'s is under the most pressure, according to a new report from $Bank of America (BAC.US)$ Securities.
McDonald's, which owns a large majority of its restaurants in Russia, has been quiet about the Russian invasion of Ukranie.
Amazon acquires Veeqo, a start-up that helps sellers manage their online businesses
The Big Tech company quietly acquired the e-commerce software start-up last November, but it didn't publicize the acquisition.
"We're excited Veeqo has joined $Amazon (AMZN.US)$," the spokeswoman said. "We plan to continue investing in new features and improvements to help Veeqo serve sellers globally from its home in Wales, facilitate growth for sellers' multichannel businesses and enhance the experience of their customers.”
Source: Bloomberg, CNBC
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Marveller : Thanks for the article!
Powerplays : Yo it’s not even Tuesday in the US and we already getting news of a dip for tomorrow! Just like when London reported building 7 World Trade Center collapsed before it actually happened! Fake news! Fake market! I wish I could meet the snake oil salesman peddling these lies to steal everyone’s money!!!![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Powerplays : “U.S. equity futures slipped Tuesday…” it’s not even 10 PM East coast USA Monday night
Powerplays : And this article was probably published for circulation when east coast USA was 6 PM Monday night
Moomoo Recap US OP Powerplays : Hi powerplays,
The time of the news "U.S. equity futures slipped Tuesday and Asia-Pacific stocks..." is based on the Asian market time. Other than U.S. shares, users can also trade Singapore shares, Hongkong shares, and A-shares on moomoo. We have users all around the world and we offer the Asian market news. Hope this can help you, thanks.
Powerplays : Ohh! I thought it was a paid article pushed out that you guys were just copy/pasting! Wasn’t throwing shade at MooMoo. I know some US financial news are paid by hedge funds to throw out short and distort articles so I assumed the same
Bandidos : stagnation, inflation, depression,market correction..all the tion tion, sound like Highway to Hell.