Instacart, the American firm popular for its grocery delivery and pick-up services, has filed a confidential filing with the U.S. Securities and Exchange Commission (SEC) to go public via an initial public offering (IPO). During the pandemic, Instacart's growth soared as stuck-at-home customers flocked to its doorstep delivery services, but because of recent contemporary volatility, the company was forced to slash its valuation by roughly 40% to over $24 billion in March. In the statement, the San Francisco-based startup provided no information about the size or timing of its market debut.

MACROECONOMIC DATA ANALYSIS

At its June monetary policy meeting, India's central bank is expected to enhance its inflation projection for the current fiscal year and contemplate further interest rate hikes, according to a source familiar with the situation. Following an emergency meeting earlier this month, the Reserve Bank of India (RBI) lifted the repo rate by 40 basis points (bps) to 4.40%, its first-rate adjustment in two years and its first hike in nearly four.

The weekly inflation rate in Russia fell further in early May, according to figures released by the statistics office Rosstat on Wednesday, after escalating substantially shortly following Russia’s launch of a "special military operation" in Ukraine on February 24th. The central bank cut its key interest rate from 17% to 14% in April, hand-in-hand with its statement that it saw the potential for future cuts as it tries to manage a declining economy and skyrocketing inflation, and current inflation is moderating.

CURRENCIES

The U.S. dollar rose on Thursday morning after U.S. inflation dropped less than predicted, leaving the Federal Reserve on track to aggressively tighten monetary policy. Such initiatives are likely to push the value of the dollar greenback even further. The U.S. Dollar Index, which measures the value of the greenback against a basket of other currencies, rose 0.16% to 103.980.

GOLD

Gold was down in Thursday’s early hours, amid investors analyzing the U.S. consumer price index (CPI), which portrayed that inflation is still solid but has peaked in April, alleviating fears about the Federal Reserve raising interest rates more aggressively. Gold futures were up by 0.20% to price at $1,841 per ounce.

OIL

Oil prices declined over 1% in Thursday’s early trading session, capping a turbulent week in which economic concerns and fears of a worldwide recession outweighed supply concerns and geopolitical tensions in Europe. Brent futures slipped by 1.31% to $106.08 a barrel, and WTI oil futures dropped by 1.51% to $104.08 per barrel.

INDICES  

USA: S&P500 -1.65%, Dow Jones Industrial Average -1.02%, Nasdaq Composite -3.06%

Europe: FTSE 100 +1.44%, DAX +2.17%, CAC 40 +2.50%

Asia: Nikkei 225 -1.77%, Hang Seng -2.02%, CSI 300 -0.36%, Nifty 50 -2.00%