June 8, 2023


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This will affect the Oslo Stock Exchange on Monday

This will affect the Oslo Stock Exchange on Tuesday

Among the pre-trading on the IG trading platform, the Oslo Stock Exchange rose 0.86 percent just after kl. Tuesday 07.00.

Roger Berntsen of NordNet believes that the Oslo Stock Exchange will open 0.9 percent, or within a period of time [0,6, 1,2] percent, despite renewed recession fears.

“Asian stock markets fell on Tuesday, although they were significantly lower than the Americans on Monday. It is natural to assume that this can help European stock exchanges today, at least in the opening minutes,” Berntsen wrote.

He indicates that investors are now waiting for the interest rate decision on Wednesday from the Federal Reserve (US Federal Reserve).

“Fed Chairman Jerome Powell previously indicated that the fed funds rate will be raised by 0.5 percentage point (twice as usual), but given the high inflation numbers last week, some expect the rate jump to be greater than 0.5 percentage point. ‘ continues the analyst.

Berntsen also notes that the price of oil was off yesterday, despite the significant turmoil in global financial markets.

“The probability of an upcoming recession in Europe and the United States has increased significantly in recent days, which would normally push oil prices lower. On the other hand, oil and energy related companies fell by more than five percent in the United States yesterday (the weakest sub-sector). at all)”, he wrote.


In Japan, the Nikkei is down 1.60 percent, while the broader Topix is ​​down 1.32 percent.

China’s Shanghai Composite Index is down 1.60 percent, Hong Kong’s Hang Seng Index is down 0.91 percent, and South Korea’s Kospi is down 0.85 percent.

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In India, the Sensex is down 0.26 percent, while the S&P/ASX 200 in Australia is down 4.33 percent after its close on Monday. The Straits Times newspaper in Singapore decreased by 0.95 percent.

Read the full update for Asia here.

oil prices

Brent crude was down 0.22 percent to $122.00 a barrel on Tuesday morning, while West Texas Intermediate crude was down 0.15 percent to $120.75 a barrel.

In contrast, a barrel of North Sea oil was trading at $122.10 a barrel at the close of trading in Oslo on Friday.

Wall Street

Monday’s inflation shock and recession fears contributed to a broad decline for all three major indices on Wall Street.

The worst case scenario was the tech-heavy Nasdaq, which closed as low as 4.68 percent at 10809.45. The S&P 500 fell 3.88 percent to 3,754.21 while the Dow Jones fell 2.79 percent to 3,402.10.

Fearing a more aggressive interest rate path for the US Federal Reserve to reach its 2 percent inflation target, investors are turning toward safe-value stocks and government bonds. Inflation target of 2 percent, investors in the direction of safe-value stocks and government bonds.