![]() ![]() Russia is a major supplier of oil and gas and several basic materials in Europe. ![]() The United States and the European Union have imposed several stringent financial sanctions on Russia including import restriction on crude oil and natural gas. Moreover, the Russian military invasion over Ukraine, which started on Feb 24 and is continuing, has made the situation worse. Several measures of inflation like consumer price index, producer price index and personal consumption expenditure price index stayed at a 40-year high during the first quarter. Normal economic activities suffered to some extent in January due to Omicron. The year started with the resurgence of the Omicron variant of coronavirus, which was highly infectious but less deadly. The last quarter was not a good one for Wall Street. Five of them are - ConocoPhillips COP, The Mosaic Co. Investment in these stocks should bear fruit in the near term. A handful of those stocks are currently carrying a favorable Zacks Rank. However, surprising many economists and financial experts, several high-beta stocks have popped year to date with more upside left. Major stock indexes of Wall Street are in the red year to date even after more than a quarter. Volatility has been injected into stock markets by skyrocketing inflation, a more hawkish Fed and the ongoing war between Russia and Ukraine. Wall Street has been reeling under severe volatility since the beginning of 2022 after witnessing astonishing rallies in the last two pandemic-ridden years. ![]()
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January 2023
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