Weekly Market Report (14 Aug 23)

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News Last Week

Last week, the CPI data was released, showing the core CPI is decreasing. Federal Reserve is likely to have their last rate hike in September and will start cutting rates next year.
The U.S. treasury was downgraded by Fitch, and several U.S. banks were downgraded by Moody's, leading to the spike in the yield. This also led to concerns about the stability of local banks.
There's been a spike in the 10-year and 2-year yield, which isn't good for tech companies.
July's cooling inflation suggests the Federal Reserve might pause rate hikes.
Ukraine introduced temporary routes to navigate Russia's Black Sea blockade.
European gas prices increased nearly 40% due to concerns about Australia's supply.
Disney reported a mixed quarter with challenges in streaming and a boost in park revenues.
Global trade faces challenges due to cyclical factors and deeper economic divisions.
China experiences deflation, prompting economic measures from Beijing. President Biden restricted U.S. investments in China and mandated disclosure for certain investments.

Major retailers including Walmart, Home Depot, and Target to release reports this week.
Census Bureau to issue data on nationwide retail sales for July on Tuesday.