For the tech sector. Ai Chip Giant nvidia has been surging on reports that the us government is considering allowing it to export advanced semiconductors to Saudi Arabia itjumped some 8 in Wednesdays Session pulling up the rest of big tech. Melissa 0tto is from S P global visible alpha where she heads up their technology research team. Just had us Producer Price Index data a little hotter than expected. That coupled with a little hotter consumer Price Index data yesterday. Does it change anything for when the fed meets next week . Are markets too optimistic about the pace of further Rate Cuts . Thank you, great to connect with you today. 0verall, thank you, great to connect with you today. Overall, the economic data that we saw Yesterday And Today was broadly in line with expectations. Based on S And P intelligence submitted for the September Rate cut of 25 basiS Points, what we have been seeing and driving some of the volatility in the market is there was some rhetoric over the past f
After Neil Armstrong became the first person to walk on the moon, billionaire Jared Isaacman became the first non professional astronaut to walk in space. Our Science Correspondent Phalab ghosh was back at home we all have a lot of work to do, but from here earth sure looks like a perfect world. Historic words for an historic moment. Out comes the first private Sector Astronaut to walk in space. Silhouetted on earths orbit. Hed paid billions of dollars for this experience. The capsule has no Air Logs of the entire spacecraft is in the vacuum of space once the doors open. Then the all important checks to make sure the spacesuits dont leak. They have been upgraded for the spacewalk, stronger and more flexible. The helmets have a Heads Up Display so they see how well their bodies are coping. The air is taken out of the capsule so the pressure inside matches what is outside. The hatch opens, and isaacman exits the spacecraft. There is not much to do outside apart from testing the suit, so
Projection that we present today is very much into parts. Im going to begin with the first part. Starting near term outlook. This chart shows the evolution of Consumer Price inflation and its components since 2018. It shows that inflation has come off the peak in october last year and that it continues to fall over the rest of this year in our near term projection. Thats the piece showed in the shade of part of the chart. This fall can be attributed in large part to a full on contribution from energy. Fuel prices have declined, electricity and gas prices have stabilised, albeit at a higher level. The Dark Orange Bars on this chart show how the contribution from Energy Prices falling and turning negatively in the coming months. Giving off gems price cap on energy and gas bills, we expect inflation to take a further step down in the july dates will be published in two weeks time. That will come down to around 7 at that point. Following a larger step down in 0ctober s data to around about
Pain it also causes. The background to this is high inflation, we have a sequencing that Around The World, particularly sticky, or at least has been here in the uk. That is why the bank has been increasing Interest Rates to try and curb the spending and get that Inflation Rate down. Should they continue to do that today, on the one hand, we have an Inflation Rate in the uk that has been easing a little, and when you dig into some of the details, to look at Producer Price inflation, thatis look at Producer Price inflation, that is further down the supply chain, that is the price is that manufacturers and factories might be paying, suggestions are it could be coming down quite significantly now. On the other hand, headline inflation, 7. 9 , still four times the Bank Of Englands 2 target. When you strip out energy and food, which can be equally volatile core inflation, they are still not falling by enough, wage growth remains quite high as well, and then there are wage comparisons, and in
Is a rate rise good for you . Really looking forward to speaking to you, to hearing from you this morning, by telephone, by text or social media. Lets get the neatest News Headlines from karishma patel. The Bank Of England is expected to raise its main Interest Rate to 5. 25 at lunchtime. It will be the 14th time in a row its gone up. Inflation has slowed down in the past few months, but is still at nearly 8 four times higher than the official target. Deputy Prime Minister, oliver dowden, says migrants will start to be housed on a barge in dorset in the coming weeks and that inspections are being carried out. They were meant to move in earlier this week but there have been concerns over fire safety and port staff. Ofcom says older viewers are switching away from live tv as part of a record drop in people watching traditional television. The Broadcasting Watchdog says audiences now have an all you can eat buffet of broadcast and online content to choose from. Scientists say a Prehistori