Newsletter Jul 18, 2022

3 things you must know

Negative inflation numbers take Wall Street for a wild ride
A couple of ugly inflation numbers and strong retail sales numbers took Wall Street on another wild rally last week, but investors appear to be looking ahead to more encouraging data. Wall Street has looked beyond the June inflation numbers to July numbers, which could show that inflation is beginning to de-accelerate, as some of the pressures driving inflation have been easing, changing the expectations regarding the Fed's hawkish policies.
SEE HOW THE NUMBERS ARE IMPACTING WALL STREET

What's next for the slumping euro against the US dollar?
The euro's plunge against the US dollar, triggered by the Ukraine war and mounting risks to the EU economy, has driven the two currencies to parity for the first time in two decades. The euro sank to $0.9952 on Thursday to a level not seen since the end of 2002, the year it was officially introduced. But traders believe the euro can recover, if it clears key hurdles in the coming months.
FIND OUT WHAT FACTORS COULD HELP SAVE THE EURO

Is US losing its supreme advantage of freedom of choice?
Of all the advantages that make the US an ideal place to pursue the dream of success and happiness, one stands out: freedom of choice in private and public life. But over the last five decades, American confidence in government institutions has eroded from 48% in 1979 to 27% in 2022. What's behind the decline? A drop in the confidence in the Supreme Court and the executive branch.
WHY AMERICANS ARE DOWN ON THE SCOTUS AND POTUS

Markets

DJIA	31,288.26	2.15%
S&P 500	3,863.16	1.92%
Nasdaq Composite	11,452.42	1.79%
Japan: Nikkei 225	26,788.47	0.54%
UK: FTSE 100	7,159.01	1.69%
Crude Oil Futures	97.80	0.22%
Gold Futures	1,712.40	0.52%
Yen	138.18	-0.25%
Euro	1.01	0.20%
* As of market close

Biden has little to show for Middle East trip

President Joe Biden and Saudi Crown Prince Mohammed bin Salman took a step to mending their troubled relationship with a fist bump, but the U.S. leader returned with few successes and doubts about whether the visit was worth it. Biden's four-day trip to Israel and Saudi Arabia, his first to the Middle East as president, aimed to reset ties with the Arab oil giant, demonstrate U.S. commitment to the region and counter the rising influence of Iran, Russia and China. But optics overshadowed the Saudi leg and may have damaged his earlier efforts in Israel.

SEE WHAT BIDEN DID ACCOMPLISH ON THE MIDDLE EAST TRIP

Treason strikes Ukraine as Russia presses

Ukraine's President Volodymyr Zelenskiy fired the head of the country's domestic security service and state prosecutor, citing hundreds of cases of alleged treason and collaboration with Russia, as Moscow said its forces would step up military actions in "all operational areas". As Western deliveries of long-range arms begin to help Ukraine on the battlefield, Russian rockets and missiles have pounded cities in strikes that Kyiv says have killed dozens in recent days. More assaults are apparently on the way as Ukraine deals with treason within its ranks.

SEE HOW CHARGES OF TREASON HAVE SET BACK UKRAINE

Finally, 'Bennifer' officially makes it official

After years of on-again off-again, Jennifer Lopez and Ben Affleck were finally married Saturday night at the A Little White Wedding Chapel in Las Vegas, Nevada. Their wedding, which was attended by a small group of friends and family, came just three months after they got engaged for the second time. Lopez shared the wedding news with her fans Sunday, posting sweet details and photos from the ceremony.

SEE BEHIND THE SCENES OF THE POWER COUPLE'S NUPTIALS

Desert diplomacy

Who was the first US president to visit the Middle East region and why?

Friday's answer: Following the stock market crash of 1929, the U.S. Securities and Exchange Commission (SEC) was created in 1934.

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