TESLA STOCKS END THE WEEK OVER 7% UP

Published Tue 10 Oct 2023 02:24 by Market Analyst

Significant events to watch:

-USA (USD): U.S. Producer Price Index

-USA (USD): U.S. Core Consumer Price Index

-USA (USOIL): U.S. Crude Oil Inventories

USA (USD): U.S. Producer Price Index (PPI) – The Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

The previous Actual data was 0.7% while the forecasted data is 0.4%. The report is due Wednesday, October 11, 2023, 18:00 GMT.

USA (USD): U.S. Core Consumer Price Index (CPI) – The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

The previous actual data stands at 0.3%. The forecasted data is 0.2%. The report is due

Thursday, October 12, 2023, 18:00 GMT.

USA (USOIL): U.S. Crude Oil Inventories – The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

The previous actual data was -2.224M while for this month the forecasted data is -0.44M. The report is due Thursday, October 12, 2023, 20:30 GMT.

Risers and Fallers

-FTSE 100 (-1.49%)

-AMZN (+0.54%)

-NVIDIA (+3.93%)

-Brent Oil (-2.64%)

FTSE 100 has declined almost 1.49% over the last 5 days. The index has been at a standstill since the start of 2023, showing 0.79% depreciation YTD.

AMZN remained at a standstill last week, documenting nearly 0.54% gains. It is currently trading at $127.

NVIDIA’s stock has spiked almost 3.93% last week. The stock has registered more than 219% gains year-til-date, demonstrating a remarkable increase rate this year.

Brent oil’s price dropped 2.64% in the previous week. The commodity is now trading at 87.62 USD.

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