Market Wrap: 28 September 2023
Stocks Decline as Oil Rally Fans Inflation Fears: September set to be worst month for global stocks in a year Oil extends one-year high amid declining US crude stockpiles Shares in Asia slumped while US equity futures and Treasuries showed signs of stability just as higher oil prices emboldened the higher-for-longer narrative, adding further pressure […]
Market Wrap: 24 August 2023
Stocks Rally on Tech Optimism, Fed Rate Outlook: Lackluster US, Europe economic data opens door for rate pause Nvidia’s bullish sales outlook prompts after-hours stock rally European and US equity futures gained along with Asian stocks in a broad-based rally helped by rising tech shares and signs the Federal Reserve is nearing the end of its tightening […]
Market Wrap: 15 August 2023
Yuan Falls on PBOC Rate Cuts; Asian Stocks Mixed: Japan’s economy shows resilience as growth beats estimates Economic woes mount in China as post-pandemic recovery falters China’s sovereign bonds rallied and the yuan fell after the People’s Bank of China cut a key policy interest rates in its attempt to boost an ailing economy. The Chinese currency […]
Market Wrap: 11 August 2023
China Tech Pulls Asian Stocks Lower; Dollar Steady: US core CPI posts smallest back-to-back increases in two years Daly says Fed has ‘more work to do’ to get inflation to goal Declines for Chinese technology companies weighed on Asian equities while US futures edged higher and the dollar clung to a Thursday rally. Mainland China […]
Market Wrap: 31 July 2023
Asian Stocks Echo US Rally on Soft Landing Hopes: Yen declines after unscheduled Bank of Japan bond buying China manufacturing PMI data shows contraction in July Equities in Asia rose Monday following a rally on Wall Street as investors embraced fresh signs that inflation is easing further. Chinese stock gauges led gains on expectations of more government […]
Market Wrap: 27 July 2023
Stocks Rise, Dollar Slips as Rates Peak in Sight: ECB will raise rates by another quarter-point, survey shows US data Thursday include GDP, initial jobless claims Global stocks rose and the dollar slipped Thursday, as investors wagered the Federal Reserve has reached the end of its 16-month long policy-tightening cycle. The Fed raised the federal […]
Market Wrap: 19 July 2023
Pound Falls as UK Inflation Cools; Stocks Climb: Traders pare bets on further aggressive BOE rate hikes Kering shares rally after management change at Gucci brand The pound weakened and bonds rallied after inflation in Britain slowed more than expected, reviving speculation about how many more times the Bank of England will increase interest rates. Stocks in […]
Market Wrap: 6 July 2023
Stocks Fluctuate as Traders Brace for US Jobs Data: Investors look to payrolls, unemployment numbers for Fed clues Alibaba surges on report China to unshackle Ant with fine Stocks were subdued as investors prepared for another round of US jobs numbers to gauge if they will back new bets for more Federal Reserve interest rate hikes. Shares […]
Market Wrap: 5 July 2023
Asia Stocks Fall as China PMI Data Sours Sentiment: Strategists are increasingly warning about risks for stocks Investors looking ahead to US payrolls data at end of week Asian shares declined Wednesday as growth in China’s services industry slowed, underscoring concerns over the tepid recovery in the world’s second-largest economy. A region-wide gauge of equities dropped […]
Market Wrap: 26 June 2023
Oil, European Stocks Steady After Russia Turmoil: S&P 500 futures tick lower after stocks slump last week Central bankers warn of more interest rate hikes this year Crude oil and European stocks were steady as investors assessed the implications of a dramatic challenge to Vladimir Putin’s rule in Russia and its potential for further turmoil. […]