On the back of yesterday’s promising inflation announcement, the Federal Reserve is set to meet and announce any changes to the interest rate in the US. Many are expecting a pause, given the relative positivity of the inflation figures. US Markets surged on the back of the positive news yesterday and a further pause may well propel US markets to new highs.
Yesterday, China made a decision to cut their short term interest rates, which surprised the majority of economists and analysts in the markets. The cut refers specifically to their seven day repurchase rate, which they have dropped by 0.1%. It is the first time that they have made such a move in nearly a year but it is with the hope of stimulating the ever slowing economy. Chinese markets responded in a cautiously optimistic manner, with oil prices also seeing a boost on the back of the news.
The Wall Street Journal released information regarding the potential live streaming of sports on Netflix. There is talk that a collaboration between golf players and F1 drivers, in the all american city of Las Vegas would be live streamed on Netflix on their new advertising based subscription. The share price is up for the week and seemingly responded well to the news.
Sources: Reuters, Bloomberg, AJ Bell, Market Watch, NASDAQ, Wall Street Journal