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BlockBeats News, May 28th: The US April PCE data will be released at 8:30 pm UTC+8 tonight. The market generally expects the year-on-year increase in April PCE to rise to 3.8%, higher than the previous value of 3.5%, potentially reaching a nearly three-year high. The core PCE year-on-year rate is also expected to increase slightly to 3.3%. With the energy price shock yet to dissipate and service industry inflation still sticky, if the data confirms the accelerated spread of inflation, the Fed's return to a hawkish stance will receive strong support. Currently, the CME Group's "FedWatch" tool shows that although the market believes rates will remain unchanged in June, the probability of a rate hike before the end of the year is significantly increasing. Looking ahead, Goldman Sachs believes that it will take time for inflation to cool down, expecting the core PCE to remain around 3% in 2026, while overall inflation for this year will stay below 4%.

Reliance Industries discusses its Oil-to-Chemicals (O2C) business: In fiscal years 2026 to 2027, volatility in product prices and supply disruptions from the Middle East may dampen domestic demand and profit margins.

As many parts of Europe have recently experienced consecutive high temperatures, the German business community has expressed concerns about the potential economic impact of extreme heat. According to a recent survey released on the 28th, continuously rising temperatures are gradually increasing pressure on the German economy and may have a significant impact on economic output as early as 2030. The survey indicates that if the trend of heatwaves over the past ten years continues until 2030, Germany’s economy could face a loss of approximately 112.5 billion euros. The research suggests that high temperatures create a “double pressure” on companies: on the one hand, rising temperatures cause a decline in labor productivity; on the other hand, increased demand for cooling drives up energy costs. (CCTV)