1) Evercore ISI says no recession for US, eyeing S&P to jump 22%
Despite major financial firms pointing to an upcoming recession in the U.S. market, Evercore ISI said that the market environment is very ugly, but believed the economy will avert a recession, particularly due to healthy credit markets and continued gains.
In the meantime, the firm predicted S&P 500 to gain 22% from the current level to 4,800 points by year end.
2) CDC says monkeypox is not easily spread through air
The Centers for Disease Control and Prevention (CDC) said that the behaviour of monkeypox is not similar to Covid and is not spread easily in the air.
Monkeypox is spread primarily through close physical contact, such as skin-to-skin contact, and people are most infectious when they have rashes on their body, according to the Centers for Disease Control and Prevention.
3) Oil prices continue to increase amid higher demand and tight supply
Oil prices edged higher in the morning of Asian trading session on Wednesday ahead of the U.S. summer driving season, while the supply remained tight.
The international benchmark Brent crude rose 1.08% to $114.79 per barrel, while West Texas Intermediate rose 1.14% to $111.03 per barrel.
4) Biden to push forward on gun control after shooting at primary school
The U.S. president Joe Biden is expected to give another push for tighter gun control after the school shooting on Tuesday that killed 19 children and two adults at a primary school in the city of Uvalde, Texas.
“We as a nation have to ask when in God’s name are we going to stand up to the gun lobby. When in God’s name do we do what we all know in our gut needs to be done?”