Suez congestion, jobless claims, AstraZeneca update – What’s happening in the markets? By Investing.com


© Reuters.

Yazar: Geoffrey Smith

Investing.com – More and more ships are piling up in the Suez Canal, there may not be a transit until Sunday. The EU and Britain will Zoom to President Joe Biden’s call for a united front against China. Led by a government media in China Nike The strong backlash against (NYSE 🙂 and H&M (ST 🙂 continues after companies said they would cut ties with cotton suppliers in Xinjiang over allegations of forced labor. AstraZeneca (NASDAQ 🙂 revised its assessment of the effectiveness of the Covid-19 vaccine downward – not a major overhaul, but enough to confuse it. And unemployment claims are expected to indicate that the downward trend in unemployment is reappearing.

Here’s what you need to know in financial markets on Thursday, March 25th.

1. Suez is still locked

The Suez Canal, one of the most important arteries of global trade, is also clogged on the third day after a large container ship ran aground on Tuesday.

According to the Bloomberg report, an elite rescue team will arrive on Thursday to support the tugboats and scoops that have so far failed to take the ship even taller than Paris’ Eiffel Tower.

About 200 ships were stranded while waiting to enter the Canal due to the blockade. This problem can affect commodity prices and trade flows for at least a month. The canal is not only a route to transport from the Persian Gulf to the east coast of Europe and the USA, but also for the shipment of Russian oil to Asia.

Crude oil futures fell 1.7% to $ 60.17, while losing 1.3% to $ 63.55.

2nd Europe, UK vaccine war – AstraZeneca updates drug data

Britain and the EU signed a ceasefire in the vaccine war, pledging to work together in a joint statement before the EU summit. US President Joe Biden also attended the summit from afar.

AstraZeneca USA has updated the test results and lowered the effectiveness rate for the Covid-19 vaccine. He now says the vaccine is 75% effective at preventing the virus and insists it is 100% successful in preventing deaths and hospitalizations.

The inconsistency with the preliminary results sheds a disturbing light on the inner workings of AZ, adding to the confusion about the first test results in Europe. AZ vaccine is an important part of the global vaccination campaign, Pfizer (NYSE:) ve Modern Much cheaper than (NASDAQ 🙂 vaccines. This is important because the two worst epidemics in the world right now are in India and Brazil.

3.Stores will open high, jobless claims and Fed speeches expected

US stock markets will open high. Interest is in the weekly unemployment applications.

It rose by 75 points, up 0.3% and 0.5%.

Initial unemployment claims are expected to decrease from 770,000 to 730,000, but the numbers that are more important as ever are the total number of people benefiting from unemployment benefits. The final reading of the fourth quarter GDP will also be shared.

Fed’s John Williams (NYSE :), Richard Clarida, Charles Evans, Mary Daly and Raphael Bostic will speak.

4. Central banks of developing countries consider increasing inflation, the decline continues

It’s another big day for the central banks of emerging economies. South Africa and Mexico will also announce the latest monetary policy decisions. Inflation pressure Turkey last week, pushed analysts raise interest rates in Russia and Brazil and I did not think to increase from today’s meeting is expected to present a more hawkish manual, especially the Mexican central bank.

Switzerland did not change its monetary policy yesterday, but softened rhetoric of possible intervention to limit the increase in the franc.

In the digital currency space, Bitcoin continued its decline amid negative comments Tesla accepted it. Bank of America (NYSE 🙂 analysts shared a note highlighting the cryptocurrency’s carbon footprint, contradicting Tesla’s goal to reduce carbon emissions. At a conference organized by the Bank for International Settlements, Benoit Coeure, former ECB board member, reiterated that Bitcoin had “failed” to establish itself as a true currency.

5.Nike and H&M feel the strong reaction of China after the Sincak cotton boycott

Among the stocks that may be of interest today is Nike, which has faced reaction from China after cutting ties with cotton suppliers in the Xinjiang region. H&M suffers from the same problem.

The companies took action after the US, the EU and the UK imposed sanctions on Chinese officials over allegations of human rights violations in Xinjiang, which the US says China has committed genocide against the Muslim Uighur minority. China reacted sharply to this situation, which it saw as interference in domestic affairs.

The fact that Biden will attend the EU summit tends to reflect a more unified West stance vis-à-vis China.

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