Investing.com - Profit Walt Disney (NYSE: DIS) exceeded expectations, and Bumble dating site shares (NASDAQ: BMBL) took off after the debut on the stock exchange; Democrats advanced an offer to minimal wages of $ 15 per hour; The fall in the British economy has become the greatest for 300 years; Oil finally reacted to some care care regarding the prospects for demand. Here is what you need to know about the stock market on Friday, February 12.
1. Minimum salary offer
Speaker of the US House of Representatives Nancy Pelosi stated that the proposal of democrats on the minimum wage in the amount of $ 15 per hour will be included in the final project of the stimulation package, when the Chamber will discuss it.
This proposal, if implemented, may have far-reaching consequences for the structure of consumer spending in the United States.
The budget management of the Congress said at the beginning of this week that this measure could cost 1.4 million people of their jobs, but to bring 900 thousand from the poverty line. It will increase the salary of approximately 27 million people, which is more than 10% of the US workforce.
Meanwhile, in Washington, Donald Trump lawyers will present their arguments after the Democratic prosecutors rested on Thursday. The likelihood that the former president will be condemned is small.
2. Reducing GDP Great Britain has become a record for 300 years
Last year, the British economy has declined more than more than 300 years, the reason for which the pandemic and slowdown in business investment was due to the situation with Brexit. The country's GDP decreased by 9.9%, with a consensus forecast of 8.1%.
The quarterly growth of the economy is 1% until December means that the country will most likely come out of the technical recession defined as a reduction in GDP for two quarters in a row. The United Kingdom has advanced further than others in the vaccination of the population, but concerns about the effectiveness of vaccines against new virus strains reduce hopes for the speedy removal of quarantine.
Prime Minister Boris Johnson will present a plan to exit the quarantine regime on February 22 under pressure from his own party, in order to ensure the opening of schools in early March, as promised. The pound sterling fell by 0.2% in relation to the dollar, but completed a week with a modest increase in a 34-month maximum.
3. The American market is adjusted, Bumble took off, disney beats records
The stock market in the United States will open up a small fixation of the profits at the end of another as a whole positive week, intermittent surges of the madness of retail investors.
By 06:35 in the morning East time (11:35 Greenwich) Dow Jones futures fell by 73 points, or 0.2%, S & P 500 futures - 0.3%, and futures on NASDAQ - by 0, 2%.
The revival in the shares of cannabis producers on Thursday continued, but it eclipsed by the stunning market debut of the Bumble dating site (NASDAQ: BMBL): stocks increased by 64% and the company earned $ 126 million last year, graduated from a market value of $ 7.7 billion
Another share of whose shares will probably be the center of attention on Friday - this is Walt Disney (NYSE: DIS), the incomes of which surpassed expectations in the last quarter. Disney + streaming service added more than 8 million new subscribers. At the premark, the shares rose by 2.2%, reaching a new record level.
As for the econisted, on Friday, the head of the Federal Reserve Bank of New York, John Williams, will speak with a speech at 10:00 in Eastern Time (15:00 in Greenwich) and may affect the issue of prices for assets and the prospect of financial stability. At the same time, the consumer sentiment index of Michigan University will be published.
4. The ruble fell due to deterioration of relations with the EU
The Russian ruble fell after the Foreign Minister Sergei Lavrov said that Russia is ready to break diplomatic relations with the European Union.
The main diplomat of the EU Jozep Borrel told on Thursday that the unit needs to introduce new sanctions against Russia in response to the ill-suppression of protests in support of the leader of Alexei Navalny's opposition prisoner. Newly "viral" demonstration of the bulk of the luxurious palace, built for President Vladimir Putin on the Black Sea coast, degenerate anti-government sentiment, especially among young voters.
On Friday, the Central Bank of Russia left a key rate at 4.25%, as expected, it is the last sign that the central banks of emerging markets begin to be greater caution regarding inflation growth.
As for other parts of Europe, the Italian movement "5 stars" stated that it would also support the new government of the former head of the European Central Bank Mario Dragi, and this means that Draghi is currently using the support of all major parties.
5. Oil correction continues
Another factor that weakens the ruble was the further correction of oil prices when the "Bulls" were in no hurry to take care of cautious reports on the prospects for the global energy market, issued on the eve of the International Energy Agency and the Organization of Oil Exporting Countries (OPEC).
By 06:35 in the morning East time (11:35 GRINVICH) Futures for American wet oil WTI fell 0.9% to $ 57.73 per barrel, and Brent oil futures fell 0.7% to $ 60.70 Barrel.
The cessation of a strike of Libyan port guards eliminated artificial support for the market, allowing oil exports to return to a normal level. Weekly counting the number of drilling rigs from Baker Hughes LLC (NYSE: BKR) and the data of the Commission on Commodity Futures on Positioning will complete the issuance of economic statistics this week.
Author Jeffrey Smith
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