Happy morning, Munchers! 🙏

Hope you all had a sensational weekend.

Back to work for most of you guys, but for me it's back to school. Let's hope this year's a good one.😂

As always, here is your daily dose of the news that matters, from Wall Street to Dalal Street - in 4 minutes and 57 seconds.

Let’s dive in.

What’s hot, what’s not?

Markets Ahead

Markets were closed, so obviously not much on that end. This week has a lot of interesting economic releases. - US JOLTs job openings and consumer confidence on Tuesday the 30th. - Chinese PMI on Tuesday the 30th.- German unemployment Wednesday the 31st.- European CPI on Wednesday the 31st.- Canadian CPI on Wednesday the 31st.- German & British PMI on Thursday the 1st- US Jobless claims on Thursday the 1st- US unemployment and non-farm payrolls on Friday the 2nd.

Lots of stuff to look forward to. I'll keep you guys posted on all of this.

Story Roundup

1 - European gas hits a record high. Again. ⛽

Those gas pump bills aren't going down anytime soon.

European nat-gas prices are now at about 14x their normal range - putting a LOT of pressure on the average Joe. Average Jack since we're in Europe.

The EU has called a little meeting with all the top energy officials to remedy this.

Utility bills are through the roof, and this needs to be fixed soon.

Ballistic. 🚀

2 - China slashes it's growth forecasts. 📉

There is some doom-and-gloom on the cards for China.

Economists are now turning bearish on the world's second-largest economy.

Forecasts for 2022 and going into 2023 have been cut heavy, as China grapples with - - COVID-induced standstills to life and business- a crumbling property market- shrinking valuations and price pressures

Beijing has announced a stimulus package of almost $150bn to help fix this.

Eyes on the prize. 🏆

3 - US stocks tumble after some gloomy guidance from the Fed. 😔

On Friday last week, the US Fed chair sent markets in a free fall.

The S&P 500 tumbled 3.4% and the NASDAQ fell 4.1%.

Our biggest lessons are that -

• The US Central Bank is determined to "keep at it until the job is done".

• Powell is against the idea of raising rates, and cutting them quickly.

• There is a long way to go to tame red-hot inflation, but they're ready to do it.

Our greatest heroes, now our greatest enemies. 😭

4 - Succession stories, going global, and Adani tussles - Reliance's AGM'22. 🔥

Mukesh Ambani's set to deliver his once-a-year speech to those invested in his $222bn empire.

Investors will be looking for insight on 3 big topics.

• Succession - Ambani is getting old. Which means that he'll be handing the reigns over soon. Investors want to know that the company will be in safe hands, and create more life-changing wealth for those loyal to it.

• Going Global - Ambani's empire is massive in India, but has been inking international deals left-right-and-center. Shareholders will listen for clues as to Reliance's next big cash-cow market.

• 5G Fight - Ambani's going head-to-head with Adani for the first time ever in a 5G showdown - and investors want to get an insight into Reliance's plans with the tech.

Link to the shareholders' info is here.

5 - Our worst drought in half a millennium is here. 🌊

It's getting hot everywhere- 64% of Europe is in drought warning- Crop yields are falling 15-20% on average globally- Farmers are saying they'll make half of what they would otherwise.

Warm and dry conditions are super commonplace now - breeding issues like wildfires and collapsing crop output.

All of this spells some pretty bad news for emerging markets - since most emerging economies are very dependent on agriculture.

Climate change deniers, anyone?

Hope you enjoyed this issue of the Market Munch. If you have any feedback, positive or negative, hit my line at [email protected] or +971 50 708 8469.

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Cheers.

- A