Tuesday 14 September 2021

Waiting On US Inflation. Another Hurricane.

Baltic Dry Index. 4163 +299  Brent Crude 73.94

Spot Gold 1792

Coronavirus Cases 02/04/20 World 1,000,000

Deaths 53,100

Coronavirus Cases 14/09/21 World 226,105,771

Deaths 4,652,663

Who rules East Europe commands the Heartland;
who rules the Heartland commands the World-Island;
who rules the World-Island commands the world.

Halford J. Mackinder, Democratic Ideals and Reality 1919.

The big news today will likely be the of the latest US inflation figures, although depending on what happens today in Texas as a slow moving, life threatening rain dumping hurricane makes landfall, by nightfall it has the potential to become the main US news event. 

North Korea joining the mini nuke club, if it just happened, is a pretty big deal too.

Below, Asian casinos mark time, awaiting the latest “transitory” US inflation numbers.

Asia-Pacific shares mixed; Evergrande shares tumble almost 10% following property sales drop warning

SINGAPORE — Shares in Asia-Pacific were mixed in Tuesday trade as investors looked ahead to the release of U.S. consumer inflation data for August.

In Hong Kong, China Evergrande Group’s stock plunged nearly 10% after the embattled property developer on Tuesday flagged expectations for a “significant continuing decline in contract sales in September,” with dampened confidence after negative media reports surrounding the firm.

Shares of China Evergrande New Energy Vehicle and Evergrande Property Services, units that Evergrande has been attempting to sell, also plummeted 22.72% and 8.3% respectively. Evergrande Group said Tuesday that it was “uncertain” whether it will be able to make any such sale.

The broader Hang Seng index in Hong Kong sat fractionally lower, struggling to recover from its Monday drop. Mainland Chinese stocks were higher, with the Shanghai composite rising fractionally while the Shenzhen component climbed 0.627%.

The Nikkei 225 in Japan rose 0.48% while the Topix index advanced 0.59%. South Korea’s Kospi gained 0.92%.

Over in Australia, the S&P/ASX 200 stood little changed.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.19%.

Overnight stateside, the Dow Jones Industrial Average rebounded from a five-day losing streak, jumping 261.91 points to 34,869.63. The S&P 500 edged 0.23% higher to 4,468.73. The Nasdaq Composite lagged as it dipped fractionally to 15,105.58.

Looking ahead, the U.S. consumer price index for August is set to be released on Tuesday stateside, with expectations that it will likely show inflation stateside continuing to run hot.

More

https://www.cnbc.com/2021/09/14/asia-markets-wall-street-us-inflation-data-currencies-oil.html

In other non-stock casino, non-inflation news, the Texas Gulf coast is getting ready for another US hurricane landfall.

If it shuts down any US oil platforms or impacts any US Texas oil refineries, expect an inflation effect to show up faster than you can say this bout of inflation is only “transitory.”

Nicholas strengthens to hurricane as U.S. Gulf Coast braces for flooding

September 13, 2021

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