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Global oil demand hits record and may move higher (2 min read)

The International Energy Agency (IEA) said the global oil demand reached a record high of 103 million barrels per day in June due to strong economic growth, summer travel, and China's oil consumption. The IEA warns it may move even higher in August and potentially set a new record annual average high for 2023, with China estimated to contribute 70% of the demand. This surge, coupled with the recent supply cuts by Saudi Arabia and Russia, has lifted Brent crude oil prices by 10% over the last month to about $87 per barrel on Friday.

Wholesale inflation in the US edged up in July from low levels (3 min read)

The US wholesale prices went up a bit in July but still show inflation cooling down from last year’s high level. The produce price index, which looks at inflation before it reaches consumers, rose by 0.8% compared to July 2022. This follows a small 0.2% increase in June. On a month-to-month basis, prices rose 0.3% from June to July, driven by services and meat prices. While this is an increase from the previous month, experts say it's still part of an overall trend of easing inflation. However, this uptick may potentially impact the Fed’s decision on interest rates.

Wedbush says now is a great time to buy tech stocks (2 min read)

Wedbush Analyst Dan Ives believes that investors should be buying tech stocks now due to strong Q2 earnings and a less hawkish Fed. He sees the recent tech stock dip as a chance to enter before a potential 12-15% rally by year-end, marking the start of a new tech bull market. He’s confident of this because of the recent impressive earnings from giants like Amazon and Apple and the rising demand for AI tech. Sectors like cloud, cybersecurity, and digital advertising should also gain from AI's impact, reminiscent of the internet's growth in 1995.

Telesat stock surges 50% after satellite internet company swaps (2 min read)

The stock of a Canadian satellite company, Telesat, surged by over 50% after announcing a switch in satellite suppliers for its global internet network, Lightspeed. A Candian-based space company called MDA will now build the Lightspeed satellite, taking the place of French-Italian manufacturer Thales Alenia Space. This switch is expected to result in a total capital cost savings of about $2 billion. Telesat plans to launch the first Lightspeed satellites in mid-2026, with global service starting after deploying 156 satellites out of the planned 198.

Time to Play Defense? Consider This ETF (2 min read)

The strong market performance this year has been driven mostly by large growth stocks. While it is debatable whether the rally will continue, some investors may want to secure profits and seek defensive positions. Several bank analysts, including JPMorgan, have also recently suggested that defensive sectors like staples, healthcare, and utilities could gain traction, particularly if cyclical sectors face challenges. This article highlights the Invesco S&P 500 Equal Weight Consumer Staples ETF (RSPS) as a possible option for investors to consider.

The Short-Volatility Trade Is Back With ETFs Sucking In Billions (5 min read)

The short-volatility trade is making a comeback as billions flow into options-selling ETFs. Investors have been embracing strategies that involve going long on equities while selling options to limit the risk. They are betting that stability will outperform this year due to the ongoing stock rally defying recession fear and the Fed’s rate hiking campaign. This has led to a record $57 billion in assets for this corner of the ETF market. This also explains why covered call ETFs like JEPI and QYLD kept on drawing assets despite subpar returns.

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