19 Hrs
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الاقتصادية
El-Erian on Wall Street Gains and Economic Slowdown
The week witnessed significant economic developments. Wall Street markets performed strongly, with technology stocks rising and oil prices declining. U.S. employment data showed an unexpected decrease of 23,000 jobs in July, leading to a reduction in the likelihood of the Federal Reserve raising interest rates from 60% to 40%. Despite this divergence, wage growth and productivity slowed down, and global economic data continued to reflect a gap between market performance and reality. Low-income households remain under pressure, and retail sales in Europe and China declined. Developments in the bond and financing markets highlighted new trends in the technology and artificial intelligence sectors. Meanwhile, geopolitical tensions, especially between the United States and Iran, are influencing oil prices. Next week’s data is expected to focus on U.S. inflation levels, with consumer price index increases anticipated to be minor, amid ongoing geopolitical tensions that could cause volatility in energy markets.
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