The Strategist
Markets & Industries

EU defense spending grows for eight years in a row - 12/01/2023

The European Defense Agency's (EDA) Defense Data Report 2022 states that defense spending in EU member states has climbed for eight years running. The reports are published every year, but this one includes information on defense spending across all EU members for the first time. "In 2022, European defense spending increased again by 6% year-on-year to a record €240 billion, marking the eighth...

Fed warns of stronger US inflation due to rising fuel prices - 11/29/2023

The Fed has issued a warning about increased US inflation as a result of growing fuel costs. A potential increase in energy costs in the upcoming months may partially counteract the gains achieved in the fight against inflation in the US, according to Michelle Bowman, a member of the Federal Reserve System's Board of Governors. Speaking to the business community in Utah, Bowman cautioned,...

Deutsche Bank expects S&P500 to hit record 5,100 points by the end of 2024 - 11/28/2023

A team of experts at Deutsche Bank Group AG forecasts that the stock index S&P 500 will reach a record 5,100 points by the end of 2024, which is 12% above its current level. Weakening US inflation and rising corporate profits are anticipated to provide support for the US stock market. Analysts at Deutsche Bank observe that although economic growth is resilient, core inflation in the United...

India aims to triple underground coal production by 2028 - 11/27/2023

India plans to quadruple the amount of coal produced in mines in the next five years, to reach 100 million tons annually, writes the Financial Times citing the spokesperson for India's Ministry of Coal Industry Amrit Lal Meena. Currently, 95% of coal in India is obtained from open pits. The government is working to build incentives to draw in international investment and encourage local equipment...

ECB warns of early signs of stress in Eurozone banks - 11/23/2023

The European Central Bank stated in a financial stability report that growing loan defaults and late payments are causing "early signs of stress" on the balance sheets of Eurozone banks. The regulator anticipates that banks' profits will decline as a result of falling lending volumes and increased funding costs, so it has urged banks to make larger provisions to cover rising loan losses. "A...

Foreign investors withdrew 75% of funds invested in January-July from Chinese stock market - 11/22/2023

Despite Beijing's attempts to rebuild trust in the world's second-largest economy, foreign investors withdrew more than 75% of their capital from China's stock market between January and July, selling shares valued at more than $25 billion, according to the Financial Times. In January, foreign investors snapped up Chinese stocks at an unprecedented rate, anticipating an economic rebound following...

FT reports likely extension of OPEC+ restrictions on oil production - 11/21/2023

According to the Financial Times, which cited four sources close to the kingdom's government, Saudi Arabia, the top oil producer among OPEC+ nations, is thinking about extending the voluntary ban on oil production until at least spring 2024. The voluntary production cap of one million barrels per day remains in place until the end of the year. It was put into place during the summer. The FT notes...

Foreign direct investments in China fall by 9.4% in January-October - 11/20/2023

According to the Ministry of Commerce of China, foreign direct investment (FDI) in the economy of the country's mainland declined 9.4% year over year to 987.01 billion yuan ($136.4 billion) in January through October. Inflows of foreign capital into the services sector decreased by 15.9% to 672.1 billion yuan. In the meantime, foreign direct investment (FDI) increased 1.9% to over 283.4 billion...

Eurozone GDP contraction estimate for Q3 confirmed at 0.1% - 11/15/2023

The European Union's statistical office reports that the third quarter saw a 0.1% contraction in the Eurozone's GDP over the preceding three months. Thus, the preliminary evaluation was validated. Trading Economics surveyed experts, and they did not anticipate a revision. Out of three estimates, this is the second one for GDP. The final data will be released on December 7. In comparison to...

OPEC raises outside oil production growth estimate - 11/14/2023

OPEC revises growth projection for non-OPEC oil output to 1.8 million barrels per day. According to the organization's November report, OPEC increased its forecast for the growth of oil production outside of its borders in 2023 by 100,000 barrels per day, and now anticipates an increase in production of 1.8 million barrels per day compared to 2022 - an average of 67.6 million barrels per day....
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