Meeting in ECB

Yesterday, on Thursday, the European Central Bank announced its decision to keep interest rates unchanged for the fifth consecutive meeting. However, the ECB  gave its strongest indication to date that rate cuts might be ahead. In an official statement, the ECB announced that if inflation continues to move toward the 2 percent target, “it would be appropriate to reduce the current level of monetary policy restriction”.

‍

Tesla Launches a New Model

Tesla (TSLA) is ready with a new variant of the popular Model Y with rear-wheel drive and a range of 600 kilometers. Most importantly, the car costs under 57,000 USD, meaning that Tesla is attempting to compete with some of the Chinese models that have recently entered the market.

‍

Inflation Figures from the USA

Finally, there's positive news regarding inflation in the USA. The so-called Producer Price Index (PPI) has increased by "only" 0.2 percent on a monthly basis, which is lower than the 0.3 percent expected by the market. However, on a 12-month basis, the PPI has increased by 2.1 percent, making it the largest increase since April 2023. This may indicate pressure within the supply chain, potentially contributing to maintaining high inflation levels. Nevertheless, the inflation figures were positively received by the stock market, where the Nasdaq, among others, ended at an all-time high.

‍

Sources: CNBC, Borsen.dk

‍