We can probably need a big shift higher in Euro Zone inflation to really get them to move on rates once again. But it's the message of that probably is for the time being. Those leaks on Tuesday night, they really confirmed that a leak was certainly on the cards. Of course, going into the meeting, really, those ones originally were spontaneous. We've been to a level to bring down inflation."Īnd you can see from their action near a dollar, the market is now sceptical that we will see another hike. The message from the statement is very much: "That's it, everyone, we've reached rates. Let's cross over to Chris Beaton, who's been taking a closer look at this.ĬB: The ECB's really been dragged into this last hike, I think. ECB, of course, shocking the market, raising rates to 4.5% versus 4.25%. One of the things that we've been keeping an eye on is, of course, the ECB number. Just taking a look at the US Tech 100 there ahead of ARM's details. We've also just had the data coming out from the US as well.
Not surprising given there's so much on deck for investors to digest. Early indications are for a pretty tepid start. Let's just have a look at the chart here. Not long now before Wall Street starts trading. Welcome to this new edition of Beat the Street. Good afternoon and a warm welcome to you. Also, at strike-hit Chevron Australia, shutting some 25%, about a quarter of its LNG production, the very same day that unionised workers are escalating strike action there. Tech stocks are rallying ahead of ARM’s return to the market, ARM valued at $54.5 billion.
Coming up, European Central Bank (ECB) and US data on debt, ECB raising rates to 4.5% versus 4.25% and investors also eyeing those US retail and jobs data points. Hello, I'm Angeline Ong and welcome to Beat the Street, the show that gives you all the tradeable news and data ahead of the Wall Street Open. (Partial Video Transcript) Tech stocks rally ahead of ARM's return
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