12.03.2024 – MACRO – February CPI increase of 0.4%, more than forecast.
Today, the Bureau of Labor Statistics reported an increase of February CPI of 0.4% over the previous month, and 3.2% over the prior year in February.
January CPI reported a monthly increase of 0.3% and 3.1% annual gain.
This marked the largest monthly increase since September.
Analysts believe that February CPI will not instill more confidence among the Federal Reserve members that inflation is on a……
29.02.2024 – MACRO – PCE Index rose 2.8% compared to January 2023.
PCE index, which strips out the cost of food and energy, rose 2.8% over the prior year in January, the slowest annual increase since March 2021 (2.2%).
Compared to the prior month, core PCE rose 0.4%, higher compared to the 0.1% increase seen in December.
Based on the latest data, analysts are now pricing in three interest rate cuts for 2024, in line with the Fed‘s most recent forecast and down from a former consensus of six cuts seen back in December.
16.02.2024 – MACRO – PPI increased 0.3% from December to January.
Today, the USA Labor Department reported an increase of 0.3% from December to January of the Producer Price Index (PPI) after that it has reduced from November to December of 0.1%.
Measured year over year, producer prices rose by a mild 0.9% in January.
Excluding volatile food and energy costs, “core” wholesale prices rose 0.5%, the most since last July. Compared with a year ago, core prices climbed 2%, up from 1.7% in the previous month.
The results of today’s report reinforce the idea that FED will…….
15.02.2024 – MACRO – January retail sales dropped more than expected.
Today, the Census Bureau advised that retail sales in the USA fell 0.8% in January from December.
This result is higher than the estimate of 0.2% decrease, and the largest month-over-month decline since March 2023.
The January report was important to evaluate a “soft landing” in the US economy, where inflation cools to the Fed Reserve’s targeted 2% rate without an extreme downturn in economic activity.
13.02.2024 – MACRO – CPI rose more than expected in the USA in January.
Based on the data released by the Bureau of Labor Statistics today, the Consumer Price Index (CPI) in the USA rose 0.3% over the previous month and 3.1% over the prior year in January, slightly higher than December’s 0.2% month-over-month increase but a deceleration from December’s 3.4% annual gain.
Stock quotations are negatively influenced by this information today, because the two measures are higher compared to economist forecasts of a 0.2% month-over-month increase and a 2.9% annual increase.
07.02.2024 – COMP – Q4/2023 TotalEnergies results
Today, TotalEnergies reported its quarter and annual results.
In 2023, the French company reported adjusted net income of $23.2 billion and cash flow of $35.9 billion.
In Q4/2023, its net income dropped 31% to $5.23 billion (below analyst estimate of $5.66 billion).
The main reason of this negative performance is the reduction of oil price into a “more normal trend” after the surge following Russia’s invasion of Ukraine.
Earnings at the TotalEnergies’ liquefied natural gas business were “robust” thanks to……
06.02.2024 – COMP – Q4/2023 bp results
Today, BP announced its Q4/2023 results with underlying profits of $2.99bn (better than the forecast of $2.76bn). The Company also announced a further buyback of $1.75bn ahead of its Q2 numbers. Profit for the year is $13.83bn.
02.01.2024 – COMP – Chevron will write down assets for 3.5-4 bln
Today, Chevron announced that it will write down 3.5-4 billion in assets, because of restrictive government policies in California and environmental liabilities in the Gulf of Mexico.
In relation to the investments in California, Chevron explained that California regulations have resulted in lower anticipated future investment levels.
With regard to the liabilities in Gulf of Mexico, Chevron will have to clean old installations that have reached the end of their productive life.
13.12.2023 – MACRO – FED hold interest rate at 5.25-5.50%
Today, the Federal Reserve has decided to maintain its benchmark interest rate in a range of 5.25%-5.50%.
The Central Bank expects inflation to fall to 2.4% next year (down from 2.5% forecast in September) and drop further to 2.2% in 2025.
FED is expected to reduce interest rates next year (economic projections suggest the chances of around three quarter point rate cuts in 2024).
01.12.2023 – COMP – Bp will purchase the remaining 50.03% stake in Lightsource BP
BP announced the acquisition of the remaining 50.03% stake in Lightsource BP, a leading solar and battery storage developer for an amount of about $322mln.
Subject to regulatory approvals, the acquisition is expected to close in mid-2024.
30.11.2023 – MACRO – PEC Index grew 3% in October, down from 3.4% in September.
PEC index rose 3% in October from a year ago, down from 3.4% in September.
“Core” PCE grew 3.5%, down from 3.7% from the month prior.
Month-over-month, core PCE rose 0.2% in October, down from 0.3% in September.