US retail sales grew at a solid pace in April, reflecting broad-based gains and suggesting demand for merchandise remains resilient despite rampant inflation.
China’s economy is paying the price for the nation’s Covid Zero policy, with industrial output and consumer spending sliding to the worst levels since the pandemic began and analysts warning of no quick recovery.
Goldman Sachs Senior Chairman Lloyd Blankfein urged companies and consumers to gird for a US recession, saying it’s a “very, very high risk.”
The ruble surged to the highest level in seven years against the euro as more European companies appeared to be complying with Vladimir Putin’s demand that they switch to paying in Russia’s currency for natural gas.
US Fed has started tightening from March onwards and corporate result are already seeing impact on its margin due to high inflation. So, the big question based on key points mention in this article is – US heading for recession? Have global market after current fall have factored in recession prices??
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Global Market – US corporate earnings & China re-opening & Recession fear
This week we will focus on few corporate earning from US which have triggered some wild move at Wall Street and global market followed including our Indian market. China will gradually open from 1st week of June after stringent lockdown due to zero-covid policy in China.
Global market witness extreme volatility on disappointment of corporate earnings from US and fear of Recession as market fear sharp increase in interest rate by US Fed. Globally central banks policy has clearly shifted from growth to controlling inflation.
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