Among the pre-trading on the IG trading platform, the Oslo Stock Exchange was down 1.61 percent after 1 p.m. Wednesday 08.30.
Roger Berntsen of Nordnet believes that the Oslo Stock Exchange will open at 1.3 percent, or within a period of time [-1,0, -1,6] percent, despite renewed recession fears.
The analyst notes that everything rose on Wall Street on Tuesday, but without much news.
Berntsen writes: “Major uncertainties (high inflation, higher interest rates, lower growth, geopolitical turmoil) continue to dominate the news picture, and are expected to do so for some time to come.
As the United States struggles to deal with rising gasoline prices and inflation, President Joe Biden is expected on Wednesday to demand a temporary suspension of the 18.4 cents per liter tax. gallons of gasoline.
The recent statements of US President Joe Biden caused oil prices to drop by more than three percent from yesterday’s levels. It is said that it is natural to assume that this will affect the oil-related companies today, and therefore the Oslo Stock Exchange.”
In Japan, the Nikkei was down 0.20 percent, while the broader Topix was up 0.02 percent.
China’s Shanghai Composite Index is down 0.33 percent, Hong Kong’s Hang Seng Index is down 1.24 percent, and South Korea’s Kospi is down 1.63 percent.
In India, the Sensex Index is down 1.06 percent, the S&P/ASX 200 Index in Australia is down 0.13 percent, and the Straits Times Index in Singapore is down 0.30 percent.
Read the full update for Asia here.
Brent crude was down 3.10% to $111.10 a barrel on Wednesday morning, while WTI was down 3.41% to $105.78 a barrel.
In contrast, a barrel of North Sea oil was traded at $115.35 a barrel at the close of trading in Oslo on Tuesday.
The New York Stock Exchange ended sharply on Tuesday. The S&P 500 rose 2.58 percent to 3769.49, the Nasdaq rose 2.51 percent to 11069.30, and the Dow Jones rose 2.14 percent to 30566.60.
The big question is whether this is a bottom or just a “bounce,” chief strategist Sam Stovall at CFRA Reasearch tells CNBC.
It’s clearly just a “bounce,” because the bottom line lacks an important ingredient, selling out of fear, Stovall argues.
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