Market correction
Nasdaq + 0.95%
NYSE -2.01%
CAC 40 + 0.19%
FTSE 100 -1.58%
Nikkei -0.09%
Modi backs off on his reforms
#Indian Prime Minister Narendra Modi on Friday declared the repeal of the controversial #agricultural laws enacted more than a year ago. The latter had provoked massive and violent #demonstrations across the country. This unexpected move appears to be a simple political calculation, with crucial national #elections taking place in the coming months. The Indian Farmers' Association rejoiced at the start of the weekend but is worried about the viability of this probable setback.
The management of inflation in question
It is now a matter of major concern for #Europeans. #Inflation, which had almost disappeared from the economic landscape of the Old Continent, is making a comeback. Over one year, it jumped in the #euro zone by 4.1%. In #Brussels, this is as much a cause for concern as it is for debate. Worry, because rising prices could jeopardize the recovery after months of pandemic. Debate, because the Twenty-Seven are not aligned on how to respond and a tightening of monetary policy could break the return of growth in its tracks. Christine Lagarde, President of the European Central Bank (#ECB), once again assured that the phenomenon is temporary, and that after a predictable peak at the end of the year, inflation, mainly linked to rebound in the economy, should lose momentum.
Covid-19 is back in Europe
A combination of factors, starting with a relaxation of health measures, the onset of winter, and the gradual dissipation of vaccine protection, are causing an increase in Covid-19 cases in #Europe. As #Austria enters a containment phase (5 days after announcing that the mandate would be addressed only to the unvaccinated, causing strong reactions), #France is signaling the start of a fifth wave. In the midst of an #election, the management of this lingering crisis could be decisive in the ballot.
Title to follow: Nvidia (NASDAQ: NVDA)
Shares of #Nvidia Corp jumped 8.3% on Thursday after the #chipmaker received praise from analysts for providing better-than-estimate results. Needham analysts said Nvidia could become the "first trillion-dollar semiconductor company."