Other news

The new data obtained on Thursday from the US Bureau of Economic Analysis showed that an economic slowdown in the second quarter was actually less than it had been forecasted earlier. The main tool for evaluating economic activity is the country’s gross domestic product, which fell by 0.6% in the second quarter. This result is better than the predicted one, as in June the fall by 0.9% was forecasted.

The upcoming speech by Fed Chairman Jerome Powell, scheduled for August 26, touches upon the potential for tightening the U.S. monetary policy. A symposium takes place at Jackson Hole, Wyoming.

Bank of Japan (BOJ) board member Toyoaki Nakamura commented Thursday on the economic environment in the country. The central bank plans to continue monetary easing as the current inflation rate driven by rising energy prices, isn’t expected to be persistent.

The Federal Reserve's annual monetary policy conference will take place on Friday in Jackson Hole, Wyoming. As reported by Tapas Strickland, NAB's economics director, investor expectations have changed. They predict that the Fed Funds rate will hit a peak of 3.80 percent in March 2023.

On Wednesday, the Nvidia corporation, known for its graphics chips production, announced its forecast for the current quarter. The company expects to see a nosedive in sales as a result of a general weakening of the gaming industry. After the forecast, the company’s stocks decreased in after-hours trading, with a total drop being around 5%.

The company is about to shut down Amazon Care, an online telehealth service. A decision to terminate the program is likely to affect the app exclusively, and it doesn't refer to other Amazon units.

Apple announced that it will hold a press conference to unveil the new iPhone 14 line. The event is scheduled to take place on Sept. 7 at 1 p.m. ET. The event will be streamed via the company's official website.

The value of U.S. natural gas has reached a maximum for 14 years, equaling to $10 per MMBTU. The quotes are primarily affected by fears about global fuel reserves being scarce.

The strengthening dollar combined with anticipated challenges of the upcoming winter takes its toll on the euro. The european currency has again fallen below parity, which is already the second time in recent months. Experts suggest it to be the beginning of a significant and prolonged decline.

Pfizer Inc and its German partner BioNTech announced that they have submitted a request to the U.S. FDA for approval of an updated vaccine against COVID-19. It is known that the vaccine is aimed at protecting against the latest Omicron variants. The company is ready to deliver vaccine doses as soon as the FDA approval process is done.