Brussels, Belgium – E be like say the stock market no too dey smile this week. European stocks don troway small as dem enter new week, but no be all sectors dey cry, oh. Renewable companies dey shine like diamond, thanks to the latest gist wey don land from America about wetin go qualify for wind and solar tax credits (better money dey show for this side!).
This meeting no be small one, as dem leaders from France, Germany, Italy, Britain, Finland, the European Union, and NATO carry President Volodymyr Zelensky of Ukraine go Washington to meet with Trump. Them wan try push back Russia wey dey try pull strings for peace terms for the ongoing war (Na so we sabi say dem no wan make Russia dey act like say dem be the boss).
If dis meeting go give birth to resolution, e fit help market balance and reduce all this geopolitical wahala wey don dey disturb our trade. People dey hope say if Russia matter fit cool down, oil prices fit balance body and trade go flow well again (who no wan make business dey shine?).
For stocks wey dey catch eye, Novo Nordisk dey enjoy praise after the U.S. don approve new use for Weygovy, wey fit help their growth campaign (money don dey call am!).
As stock futures dey point to something wey go be like small wahala, all eyes don center on Jackson Hole central-bank gathering wey go happen for Wyoming from Thursday to Saturday. Investors dey wait with bated breath for Federal Reserve Chair speech; everybody dey wan know if dem go start cut interest rate for September (money matter dey shake table o!).
This one fit change everything wey concern market, as everybody dey look out for the health of the consumer as reports from big-box retailers like Home Depot, Target, and Walmart dey come out fast-fast before the market close.
For forex market, dollar don rise small as investors dey wait for the Jackson Hole meeting. And as dem dey prepare, UK inflation data on Wednesday fit carry sterling go above $1.36 resist level, if e no disappoint (Na ‘if’ dem go chase me!).
Bonds don show recovery too, especially eurozone government bond yields wey don come down from the recent high wey dem hit last Friday. According to ING, this one dey happen because of wetin dey happen with fiscal concerns and Dutch pension reforms (Na wetin dem call ‘big boy wahala’).
Despite all this story, oil price don dey mixed as e backtrack after Trump and Putin meet for Alaska summit. Dem don reduce any fear of stronger sanctions on Russia and e dey affect oil flow (oil wey suppose shine don dey reduce shine moment)—but e still dey remain watch and see.
Gold dey jiggle small too, as futures tick higher, but all dis matter dey float inside narrow price range—talk true, e dey sensitive to wetin dey happen. Analysts dey talk say central banks fit use this time to diversify into gold as geopolitical wahala go increase for second half of the year (na who no love stable gold?).
Omo, dis whole things dey show say e no go easy, but we dey follow the thread: European leaders don gather as them set to back Zelensky, and they plan to no let Putin run the show. Make we see wetin wetin go happen after dem meet, because na dem go decide if market fit chill or go scatter again!
