Weekly Market Report (24 July 23)

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News Last Week

The UK has joined the £12 trillion Indo-Pacific Trade Bloc, signaling a move towards greater globalization.
Financial stress is escalating in China's debt sector, resulting in higher financing costs and shorter tenures.
Global wheat prices are surging due to Russia's termination of the grain deal.
Tesla began production of the long-awaited Cybertruck at its Texas factory.
Tesla and Ford have cut the prices of their electric vehicles, leading to an increase in profit for Tesla and potential growth for Ford.
ARK Investment Management's Cathie Wood reduced her stake in Twitter by 47% but remains optimistic about the company's future.
Netflix's initiative against password sharing has resulted in a surge in new subscribers.
Microsoft and Meta have collaborated to provide new AI software for businesses.
Semiconductor giant TSMC reported a drop in profit for the first time in four years due to a slump in electronics demand.
Hiring trends suggest a possible impending recession, despite an increase in job recruitment.
Turkey has increased its key interest rate to counteract high inflation.
UK borrowing costs have decreased following lower-than-expected inflation, suggesting a less likely interest rate hike from the Bank of England in August.