In recent developments, the biggest North Sea oil find in decades is set to be drilled for the first time, with sites expected to produce 500 million barrels of oil despite crackdowns on net zero emissions. Additionally, the IMF has warned that cyber attacks could risk triggering bank runs, as research shows the number of malicious attacks has doubled since the pandemic.
A survey by the FCA has found that baby boomers are coping better with higher bills, as they are more likely to own homes outright and have inflation-linked income. However, Mohammed bin Salman has been forced to rein in his dreams of a mirror city, as plans for a gleaming skyscraper utopia in the Saudi desert have lost their shine.
Overnight, Wall Street saw the S&P 500 edge up by 0.1%, while the Dow Jones slipped less than 0.1%. The Nasdaq Composite rose by 0.3%. Treasury yields eased in anticipation of Wednesday’s update on U.S. consumer inflation, with the yield on benchmark 10-year US Treasury bonds dipping to 4.35%. In Asia, Hong Kong stocks rose, with the Hang Seng Index adding 0.58%, while the Shanghai Composite and Shenzhen Composite Index dipped slightly.
In Tokyo, stocks opened lower as investors took a cautious stance ahead of US inflation data. The Nikkei 225 index dropped by 0.34%, while the broader Topix index slipped by 0.31%. Keeping up with these global market trends is essential for making informed decisions throughout the day
