Market Wrap: 31 May 2023
Stocks Slump on China Economy Worries; Bonds Gain: Debt-limit deal faces final test in Congress to avert default Oil trades below $70 per barrel; euro falls on inflation data China’s economic woes reverberated beyond the country’s domestic markets on Wednesday, with European and Asian stocks falling along with US equity futures, while bonds gained. Hawkish […]
Market Wrap: 30 May 2023
Bonds, US Futures Rise as Debt-Deal Lobby Ramps Up: Biden, McCarthy agreement now faces Congressional hurdle Hong Kong China stock gauge set for bear market; dollar steady Treasuries and US stock futures advanced on hopes that Congress will pass a debt-accord to head off a default as White House and Republican congressional leaders stepped up […]
Market Wrap: 25 May 2023
Nasdaq Futures Up 1.6% as Nvidia Drives Tech Rally: Nvidia gains 23% in early US trading after blowout results Fitch Ratings warns that the US’s AAA rating is under threat. Nasdaq futures rallied and chipmakers soared as a bullish sales forecast from Nvidia Corp. ignited gains in companies linked to the frenzy for artificial intelligence. […]
Market wrap: 17 May 2023
Oil Drops as China Concern and Inventory Estimate Hurt Outlook Some investment banks trim China GDP forecasts after weak data WTI futures fall toward $70 a barrel after losing 0.4% Tuesday Oil fell for a second day as traders weighed the outlook for demand in China and a US industry report pointed to a build […]
Market Wrap: 16 May 2023
Havens Gain as US Debt Stalemate Sidelines Traders: Yellen sticks with warning US may run out of cash in June Japan’s Topix closes at highest since 1990; China data miss Investors gravitated to havens including Treasuries and technology shares amid the stalemate in Washington over whether to raise the US debt ceiling. Yields on benchmark […]
Market Wrap: 15 May 2023
Equities Edge Up, Politics Rumbles Over Currencies: Investors see some signs of progress in US debt-ceiling talks US futures, Asian shares swing higher; Hong Kong leads advance US and European stock futures inched higher while Asian equities advanced as investors weighed signs of progress in talks to avert a US debt default and persistent inflationary […]
Market wrap: 12 May 2023
Stocks Rise on Luxury Earnings; Rand at Record Low: BofA strategists see US recession weighing on tech stocks Investors assess signs of progress in US debt-ceiling talks Stocks rose as investors found confidence in strong earnings from Cartier maker Richemont and signs that US lawmakers are making progress on a deal to raise the debt-ceiling. […]
Market wrap: 9 May 2023
Stocks, Oil Fall on Weak China Data; SBB Sinks: Swedish landlord SBB delays dividend, cancels rights issue Saudi oil giant Aramco rallies amid plans to boost dividend Markets fell broadly after Swedish landlord SBB halted dividends and economic data from China was weaker than expected. European stocks and US futures traded lower on Tuesday, along with oil. […]
Market wrap: 8 May 2023
Asia Stocks Gain on Better Sentiment; China Leads: Solid US jobs data temper concern over threat of recession US stock futures fluctuate after rally on Wall Street Friday Asian shares advanced for a third day, led by gains in China, amid relative calm and positive sentiment across financial markets. An Asia-Pacific stock index headed for […]
Market wrap: 4 May 2023
US Futures Climb, Dollar Extends Post-Fed Decline: S&P 500, Nasdaq 100 contracts advance after Wednesday drop Slide in PacWest shares reignites fears over US regional banks US futures and Asian stocks edged higher while European contracts were flat as investors brushed aside the Federal Reserve’s commentary against interest-rate cuts and looked ahead to an eventual […]