The United States: Confidence among high-income Americans is declining rapidly, which could impact spending.
New home sales dipped below 2016 levels last month and are now about 20% below the June 2021 volume.
The Eurozone: Bond spreads are widening despite the ECB’s new framework to fight defragmentation.
Commodities: Commodity ETFs have been experiencing significant outflows.
Equities: Microsoft’s results were hurt by the US dollar’s strength, which is hitting many firms that have substantial international sales.
But the results weren’t as scary as investors feared, and Microsoft’s guidance was better than expected. It appears the market is willing to look beyond current headwinds as shares jumped after the close.
Global Developments: The IMF boosted inflation forecasts as they expect prices to remain elevated for longer.
Food forThought: Lastly, let’s take a look at companies with the highest revenue.