The global economy is now entering a more mature phase of the economic cycle when growth momentum peaks and central banks begin to withdraw support. Against this backdrop, equity returns are expected to be more muted but still positive, supported by solid corporate earnings.
Stocks generally rise ahead of jobs report, crude drops as U.S taps supplies which also stabilize movements. Utility Bill / Fuel / Gas price shock for millions as energy price rise hits home in view of Russia threatening gas cuts if not paid in rubles.
- UK Energy Suppliers websites crash before price rise on Friday.
- President Vladimir Putin said Russia would continue supplying gas to Europe even as it demands customers pay in rubles, easing fears the change could lead to damaging disruptions.
- Oil extends drop below USD100 as US plans huge reserves release.
- EU warns China it would damage global role by helping Russia whilst Ukraine War continues notwithstanding the communicated focus on East by Russia.
- Hong Kong trading halts freeze USD15B after earnings delay.
- Japanese shares fall on weaker Wall Street profit taking.
- China: Stocks suspended as home sales slump deepened after missing a deadline to report annual results due to latest COVID outbreaks.