EUR/USD
1.12568
0.334%
Gold
4175.16
0.111%
Oil
95.884
-0.213%
USD/JPY
158.015
0.025%
GBP/USD
1.33367
0.464%
GBP/JPY
210.746
0.473%
Real-time News
Iran says an oil tanker that "violated" regulations caught fire near Hormuz hours earlier.October 16th - As businesses pass on rising costs, the energy price shock is beginning to spread across the US economy, further complicating the Federal Reserves task of stabilizing inflation. Two reports released this week show that prices in several sectors, including airfares, delivery services, and trucking, rose sharply last month, driven by oil prices pushed up by overseas wars. Grocery prices have been largely unaffected so far, but economists believe they still face the risk of future price increases. Economist Heather Long stated, "Corporate inflation is strong across all categories, even excluding energy. In the coming months, businesses will inevitably pass on some of these costs to consumers." Stephen Stanley, chief economist at Santanders US Capital Markets division, said, "If you look at the food category in the CPI, the increase in recent months has actually been below trend. Price transmission hasnt been as fast as I expected, but I think it will still come. This is a risk that hasnt yet materialized but will inevitably emerge sooner or later."Shell is considering selling its retail petrol station business in France.October 16th - Despite the ongoing conflict in the Middle East, Dubai Investment Parks Development Company is proceeding with its initial public offering (IPO), potentially becoming the UAEs first IPO this year. According to sources, the company, owned by Dubai Investment Company, plans to meet with investors between October 19th and 26th to assess market demand. Established in 1997, Dubai Investment Parks covers 2,300 hectares (approximately 8.9 square miles) and includes warehouses, hotels, retail shops, schools, and medical centers, making it one of Dubais largest mixed-use developments. Dubai Investment Company previously indicated it might sell a 24% stake in its subsidiary through the IPO. The Gulf region was once a hotbed for IPOs, but this year, the scale of IPOs has shrunk significantly due to the regional conflict and an overall market slowdown. Since the outbreak of the war, stock markets in the Gulf region, except for Oman, have generally declined, with the Dubai benchmark index falling by approximately 3%.Wells Fargo lowered its price target for Western Digital (WDC.O) from $730 to $450.
