Investing.com - the US Ministry of Finance will hold auction of 10-year bonds worth $ 38 billion in a couple of hours after the publication of February inflation in the country. Roblox Corp (NYSE: RBLX) makes debut on the stock exchange through direct listing after establishing the base price at $ 45. It seems that the tendency of the lag of the Big Tech sector will again declare itself. The publication of the Oracle Corporation report (NYSE: ORCL) is expected, and the US government reports weekly data on oil reserves. This is what you need to know about the financial market on Wednesday, March 10.
1. The Ministry of Finance is preparing for mass sale of bonds
Inflation data for February, which must be published at 08:30 in the morning (13:30 GRINVICHI), will give some idea of whether it is necessary to more seriously refer to the "great threat of inflation" 2021. As expected, the consumer price index (CPI) will increase by 0.4% per month, while the annual indicator is expected to increase from 1.4% to 1.7%. The basic consumer price index, eliminating more changeable elements, such as food and energy, will grow by 0.2% at an annual level 1.4%.CPI's ability to track actual inflation is disputed due to its failure to track changes in the structure of consumer spending in real time. This is especially important per year of the pandemic.
Nevertheless, these figures will surely attract attention, as they will reach the auction of the Ministry of Finance for the sale of 10-year bonds worth $ 38 billion at 13:00 in Eastern Time (18:00 GRINVICH), which will be more difficult task than selling Tuesday 3-year bonds. Weekly, weekly data on refinancing mortgage loans, which probably suffered from raising long-term rates in recent weeks.
2. The Chinese market is poorly restored, and the creditative data turned out to be better than expected.
China's stock indexes also managed to stop the fall, at least one day, when all major indexes showed an increase in a whole 1% after the monthly lending data turned out to be better than expectations. The Bloomberg agency reported that the authorities seem to be banned to make the "stock market" request in popular search engines, since last week the sales accelerated.
Cumulative financing is the widest increase in lending growth, increased almost twice as compared with the forecast of 1.7 trillion yuan. The amount of outstanding loans increased by more than 13% compared with last year, and this indicator is likely to slow down, given that the Chinese central bank seems to be focused on a bet close to 9%.
On prices for non-ferrous metals also turns out to be a new pressure, since the main steel city of the country warned about smith, which will hit the production of steel. Futures on the iron ore fell by 3%, and copper futures kept above $ 4 per pound.
3. The unsatisfactory indicators of Big Tech will appear again; Oracle report about income
The stock market in the United States on Wednesday will again open up mainly above, although the recent tendency to lag behind the high-tech sector seems to be confirmed.By 06:30 in the morning East time (11:30 GRINVICHI), Dow Jones futures rose by 103 points, or 0.3%, S & P 500 futures - by 0.1%, and futures on NASDAQ 100 decreased by 0 , 2%. It followed the colossal growth of NASDAQ by 3.7% on Tuesday, as the victims of the losses, technical companies suddenly found the demand from the hunters for discounts.
Shares that are likely to be the focus today a little later, it is Gamestop Corp (NYSE: GME), which have grown by another 25% on Monday, since news about online sales increased the ongoing short-skil shares. Gamestop has grown by 11%. It will also be interesting to know whether companies like Tesla (NASDAQ: TSLA) will be able, which on Tuesday added another $ 100 billion to its assessment, rising by 20%, save the recovery pulse.
An Oracle software giant will announce their income after the closure of trading.
4. Roblox debuts after installing the price of $ 45
The Roblox game platform debuts on the New York Stock Exchange today later, after it becomes the price for direct listing at $ 45 per share.
The company's cost is estimated at about $ 30 billion.
The company, which, due to the pandemic, increased the average number of users on the day and the average time spent on the game, abandoned the traditional IPO, preferred direct listing.
5. Oil prices are consolidated; Inventory of oil reserves from EIA is expected
The prices of crude oil were consolidated after the shock was held due to another major increase in the reserves of crude oil in the United States last week and was ignored by the news that Iraq, the second largest oil producer in OPEC, was produced in February in February.
By 06:40 Eastern Time (11:40 Greenwich) Futures for American wet oil WTI did not change, remaining at $ 64.02, while Brent Oil fell 0.2% to $ 67.20 per barrel.
The focus today will probably be governmental data on oil reserves after the weekly assessment of the American Oil Institute (API) showed the growth of reserves of crude oil by 12.8 million barrels, which is the largest weekly increase since April last year. The API data over the past two weeks seems to correspond to an increase in reserves by 21 million barrels registered last week with Energy Information Management (EIA). Thus, any excess of the expected increase in reserves by 816 thousand barrels can be perceived negatively.
Author Jeffrey Smith
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