The US consumer price index (CPI) rose 3.7% on an annual basis in August, which was an acceleration from July and slightly higher
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2023-09-14 | Sign Up | View Online | Advertise
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Market Snapshot 📷
S&P 500 4,467.44 +0.12%
Nasdaq 13,813.58 +0.29%
Dow 34,575.53 -0.20%
10-Year 4.254% -0.01%
Oil 88.75 -0.10%
Gold 1,931.10 -0.21%

*All data as of the previous day’s market close.

Markets & Economy
US inflation accelerated in August as oil prices surged (5 min read)

The US consumer price index (CPI) rose 3.7% on an annual basis in August, which was an acceleration from July and slightly higher than the 3.6% that economists forecasted. The uptick was mostly driven by the surge in oil prices over the last month. The core inflation, which strips out food and gas, climbed 4.3% in August from the prior year, a slowdown from July. Despite the slight increase in overall inflation, the market still expects the Fed to pause its hikes next week.
It's the beginning of the end for global oil demand, IEA says (2 min read)

The International Energy Agency (IEA) predicts that global demand for oil, gas, and coal will reach its peak this decade. The rise in clean energy technologies globally like electric vehicles is expected to greatly reduce the demand for these fuels. Major economies like China and Europe have also been actively moving towards renewables and away from coal and gas consumption. This marks a significant shift away from the continuous growth in fossil fuel demand.
Business & Stocks
UAW may opt to strike targeted auto plants if no deal is reached (3 min read)

The United Auto Workers (UAW) union might go on strike if they can't reach new contracts with the big three automakers - General Motors, Ford, and Stellantis - by Thursday night. Initially, they may target specific plants for work stoppages. It would be the first simultaneous strike at all three automakers in years and could cost the industry over $5 billion. Negotiations are ongoing, with revised offers from the automakers, but the situation is tense as the deadline approaches.
China says it hasn’t banned iPhones or foreign devices for government staff (2 min read)

China says it hasn't banned iPhones for government workers, despite recent media reports. The foreign affairs spokesperson stated that while there may be informal guidance against using iPhones, there is no official policy against foreign phone usage in government offices. Apple stocks dropped when the report first came out last week and fell further after news on the iPhone ban in China will extend to state-owned enterprises.
Funds & ETFs
Time for Low-Beta ETFs? (3 min read)

Although the US stock markets have surged much more than most anticipated in the first half of 2023, it has lost its momentum entering the end of the year. Factors like sticky inflation, weaker consumer savings, and other global economic concerns have contributed to this pullback and raised the likelihood of volatility ahead. Against this backdrop, this article recommends low-beta ETFs, along with examples, that investors can use until a sturdy market is ensured.
What Is an Anti-ESG ETF? Inside the Conservative Investment Movement (3 min read)

Anti-ESG ETFs are ETFs that exclude companies that meet certain environmental, social, and governance (ESG) criteria. It has been around since the early 2000s but gained attention recently as more investors believe that ESG investing does not align with shareholders' interests and can lead to underperformance. The largest anti-ESG ETF currently is the Strive U.S. Energy ETF (DRLL). More on the top and types of ESG funds are available in the article.
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