Pre-Market Pulse 8th August – Equities grind higher,  Thursdays Inflation report in focus 

Overnight Equities – Equities grind higher,  Thursdays Inflation report in focus 

The focus of attention this week will be on Thursday’s release of the latest consumer inflation data, which could give traders further insight into the potential policy path ahead for the Federal Reserve. Consumer inflation data due Thursday is expected show that price pressures remained steady in July, which would likely support optimism that the Fed may have delivered its final hike last month.

The U.S. yield curve continued to steepen as long-duration Treasury yields added to gains, while shorter-dated yields slipped amid ongoing bets that the U.S. can avoid a recession.

Oil prices edged lower Monday, but remained near their highest levels since mid-April after top producers Saudi Arabia and Russia announced plans late last week to extend output cuts for another month to tighten global markets further.

Grain prices gained ground on the Ukraine drone attack on a Russian fuel tanker in Crimea, setting the Black Sea grain deal further back

Corporate news

Berkshire Hathaway – Warren Buffett’s Berkshire Hathaway reported better-than-expected quarterly results, driven by strong performance of its insurance companies, sending its share price more than 3% higher to record highs. Berkshire also said it is currently holding a record cash position of $150B hinting that they believe caution is warranted