DIRS.INFO The most relevant business & tech news

☆ Asia stocks see bright side after Nvidia sounds upbeat
▼ + stars: | 2023-02-23 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Shares in the giant Taiwan Semiconductor Manufacturing Co (2330.TW) rose 2.2% to lift Taiwan's benchmark (.TWII) 1.3%. A 4% gain for SK Hynix (000660.KS) and a 2% gain for Samsung (005930.KS) drove South Korea's Kospi (.KS11) 1% higher. The Bank of Korea also offered some relief by ending a year-long run of uninterrupted rate hikes with a pause - as expected. Wall Street indexes fell overnight and are eyeing their worst week of the year so far as stronger-than-forecast U.S. labour, inflation, retail sales and manufacturing figures have traders pricing interest rates staying higher for longer. "Markets have been forced to reprice interest rate expectations, not just higher, but also questioning the view that once peak rates are hit, central banks will pivot quickly to cutting interest rates," said ANZ economist Finn Robinson.

☆ Stocks struggle to make headway as rate rises loom
▼ + stars: | 2023-02-23 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) touched its lowest since Jan. 6 in early trade. Nasdaq futures (.NQc1) rose 0.9% after a revenue beat at chip designer Nvidia (NVDA.O) sent its shares up 9% after-hours. Oil nursed sharp overnight losses, and Brent crude futures clung to support around $80 a barrel on Thursday. "Markets have been forced to reprice interest rate expectations, not just higher, but also questioning the view that once peak rates are hit, central banks will pivot quickly to cutting interest rates," said ANZ economist Finn Robinson. The Bank of Korea did, however, offer some dose of relief by ending a year-long run of uninterrupted rate hikes with a pause.

☆ Dollar rally loses steam as traders wait on Fed, data
▼ + stars: | 2023-02-21 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Feb 21 (Reuters) - The dollar was parked below recent peaks on Tuesday, as a three-week rally faded and traders waited on economic data to figure on whether it's warranted to push the dollar up any further. Strong U.S. labour data and sticky inflation have raised U.S. rate expectations and supported the dollar's rally so far this month - Tuesday's European and U.S. manufacturing data and Friday's core PCE price index will guide the next steps. "I suspect that further significant dollar strength will require the Fed Funds futures market to start pricing in a 50 basis point rate hike in March," he said. The New Zealand dollar held at $0.6259 ahead of a central bank meeting on Wednesday. Overnight the Swedish crown jumped as inflation turned sticky and central bank minutes showed policymakers prepared to keep hiking.

☆ Stocks shrug off rates risk as U.S. consumers spend
▼ + stars: | 2023-02-16 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Equities - with the Nasdaq (.IXIC) up 15% so far this year - are clinging to the positives, while in interest rate markets investors are quickly ditching hopes for cuts later in 2023. Two-year Treasury yields , which also track short-term interest rate expectations, hit their highest since November at 4.703% overnight. S&P 500 futures rose 0.2%. Elsewhere the repricing of the interest rates outlook is putting an end to a couple months of selling of the dollar in currency markets. The U.S. dollar index is eying a third weekly gain in a row - the longest streak since September, when the index was galloping towards a 20-year high.

☆ Dollar finds friends after sticky U.S. inflation readout
▼ + stars: | 2023-02-15 | by ( Tom Westbrook | ) www.reuters.com time to read: +2 min

SINGAPORE, Feb 15 (Reuters) - The dollar found some support on Wednesday after stubbornly high U.S. inflation suggested interest rates are going to remain high for longer than investors had expected. The U.S. dollar climbed to a six-week high of 133.30 yen and sat not far below that at 132.73 early in the Asia session. "Inflation remains too high," Commonwealth Bank of Australia strategist Joe Capurso said. There is not much good news for (the Fed) that is looking for inflation to head down much further towards its 2% target." Federal Reserve officials said the U.S. central bank will need to keep gradually raising interest rates to beat inflation.

☆ Biden to name Fed's Lael Brainard as top economic adviser - source
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +2 min

Feb 13 (Reuters) - U.S. President Joe Biden is expected to name Federal Reserve Vice Chair Lael Brainard to the White House's top economic policy position as early as Tuesday, a source familiar with the matter said on Monday. Brainard would replace White House National Economic Council (NEC) Director Brian Deese, who has announced his resignation. In addition Biden confidant Jared Bernstein is expected to replace Cecilia Rouse as chair of the Council of Economic Advisers, the source said. The White House declined to comment. "Under normal circumstances I would have thought that her advice to Biden would be very pro stimulus," he said.

☆ Morning Bid: Is it a bird?
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

Officials declined to say whether it resembled the large white Chinese balloon that was shot down earlier this month, though U.S. Air Force General Glen VanHerck is not ruling out aliens. Markets have kept an eye on the geopolitical mystery, but more focus is on whether U.S. inflation is earthbound or stubbornly hovering. Economists expect Tuesday data to show monthly rates ticked up in January, but the annual measures declined. Revised figures on Friday showed that inflation in December was a little stronger than originally reported, and a closely-watched consumer inflation expectations survey showed a notable spike in the short-term outlook. The BOJ’s YCC faces a reckoningKey developments that could influence markets on Monday:- Fed's Bowman speaks- ECB's Lagarde participates in Eurogroup meetingReporting by Tom Westbrook; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

With inflation accelerating, Ueda could finally set Japan on a path to raise rates after the BOJ spent a decade fighting deflation risks with its unorthodox bond buying scheme costing trillions of yen. Ueda himself on Friday said current policy settings were appropriate, which also put a bit of a dampener on expectations of any shift. Implied volatility has also eased in the forex options market, suggesting an ebbing in bets on big shifts in the yen exchange rate. "It's not very apparent that (Ueda) would take on the job and then immediately change the policy." To be sure, 10-year Japanese yields were untraded at the BOJ's ceiling on Monday, indicating plenty of investors are staying short.

☆ NBA roundup: Kyrie Irving leads Dallas to win in Mavs' debut
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +7 min

He added 11 assists and 10 rebounds. LaMelo Ball collected 16 points and six rebounds and Gordon Hayward added 15 points for the Hornets, who have lost five in a row. Fox (31 points, 11 assists) scored the final seven points for the Kings, who trailed 128-123 with 1:17 left. Martin added 15 points -- all in the first half -- and Jae'Sean Tate added 16 for the Rockets, who committed 13 of their 19 turnovers in the second half. Bojan Bogdanovic, Detroit's most prominent trade chip ahead of Thursday's deadline, led the Pistons with 15 points.

☆ Investor reaction to Adani market rout after short-seller report
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +4 min

The rout has sparked concern that the fallout could also affect, more broadly, confidence in India. GEORGE BOUBOURAS, HEAD OF RESEARCH AT K2 ASSET MANAGEMENT, MELBOURNE (UNDERWEIGHT ON INDIA)"The Adani effect works both ways given the market cap relative to index. "To attract more capital the Indian economy needs more FTAs (free-trade agreements) and more financial market reform - a long process." Given there has not been any significant change for now for the market valuation, the market remains overall expensive in our view." Adani is a known levered name in India, so I would think most participants should not associate the same issues for other Indian assets."

Foreign investors, many of them already underweight what they consider an overpriced stock market, are reducing exposure. "Only Adani Group is trading with these ridiculously high multiples, and that is the core of the problem." "At this point in time, I don’t think it’s a systemic risk," said Jimmy Lim, chief investment officer at Modular Asset Management in Singapore. "We don't think that there's going to be a default anytime soon, although I don't expect any kind of near-term resolution between Adani Group and Hindenburg," Chao said. Yet Chao expects the selloff to help bring Indian stock valuations to more "palatable levels" for investors.

☆ Stocks firm, dollar on edge ahead of Fed decision
▼ + stars: | 2023-02-01 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

The Fed will announce its rate decision at 1900 GMT, followed by a news conference with Chair Jerome Powell half an hour later. Currency trade has been in a holding pattern ahead of the Fed and Bank of England and European Central Bank meetings that follow on Thursday. But the U.S. wages data wiped out some small dollar gains made earlier this week amid some nerves that the Fed sticks to its hawkish stance. United Parcel Service (UPS.N), the world's biggest package delivery firm, beat forecasts and shares rose 4.7%. Prices for dollar bonds in Adani Group companies were steadying in Asia trade on Wednesday after last week's rout.

New Jersey-based Celsius filed for U.S. bankruptcy in July last year, after freezing customer withdrawals from its platform. She was tasked with investigating accusations by Celsius customers that the company operated as a Ponzi scheme and also with reporting on its handling of cryptocurrency deposits. Celsius gathered crypto deposits from retail customers and invested them in the equivalent of the wholesale crypto market. It raised some of the initial capital to fund its business by creating and selling its own crypto token, called "CEL". "The business model Celsius advertised and sold to its customers was not the business that Celsius actually operated," the report said.

LONDON/SINGAPORE, Jan 31 (Reuters) - The dollar ticked higher on Tuesday ahead of a raft of central bank decisions but remained on track for its fourth consecutive monthly loss. The Federal Reserve will set interest rates on Wednesday, followed by the European Central Bank (ECB) and Bank of England (BoE) on Thursday. That meant it was set for its fourth monthly drop, having fallen around 11% since hitting a 20-year peak in late September. Investors then expect the ECB and BoE to raise their main interest rates by 50 bps each on Thursday. Sterling was last 0.29% lower at $1.231, but was on track for its fourth monthly increase.

☆ Dollar set for fourth monthly drop as Fed meeting looms
▼ + stars: | 2023-01-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 31 (Reuters) - The dollar was eyeing a fourth monthly loss on Tuesday as investors reckon a peak in U.S. interest rates could swing into view as soon as this week's Federal Reserve meeting. The U.S. dollar index is down 1.3% for January so far, though it rose 0.3% to 102.19 overnight. The Japanese yen fell 0.4% overnight but is set for its third monthly gain as markets anticipate shifts in monetary policy. Sterling and the Australian, New Zealand and Canadian dollars also made overnight losses but are set for monthly gains. Interest-rate futures indicate market expectations for a 25 basis point (bp) hike from the Federal Reserve to take the Fed funds rate window to 4.5%-4.75%.

☆ NBA roundup: Magic rally to end Sixers' win streak
▼ + stars: | 2023-01-31 | by ( ) www.reuters.com time to read: +5 min

James Harden amassed 17 points, eight rebounds and six assists, and Tobias Harris also had 17 points. Josh Giddey added 21 points for Oklahoma City, which has alternated wins and losses over the past six games. Patty Mills also finished with 21 points as he and Thomas combined to shoot 15 of 25 and hit eight 3-pointers. Bradley Beal added 21 points for the Wizards, with Kristaps Porzingis hitting for 17 and Kyle Kuzma scoring 16. Jeremy Sochan had 17 points, Zach Collins had 16 points and 11 rebounds and Stanley Johnson added 10 points.

☆ Morning Bid: Breathe in
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Tom WestbrookMarkets are holding their breath for a week where central banks may start to take divergent paths. read moreWall Street's "fear index" - the VIX volatility index - on Friday fell below 18.0 for the first time in over a year, and perhaps a little under the radar, U.S. bond market volatility is now its lowest since last June. In Asia, markets slipped slightly, U.S. futures fell 0.4% and currency trade was eerily calm. The Nikkei newspaper reported Renault (RENA.PA) was to lower its share holding in Nissan (7201.T) to 15%, while the latter would invest in Renault's EV business. Things have not gone well for investors in other firms Hindenburg has targeted.

☆ Some of the most controversial beauty gurus are speaking out as a TikTok star's mascara review stirs up explosive drama on the app
▼ + stars: | 2023-01-27 | by ( Andrew Lloyd | ) www.businessinsider.com time to read: +6 min

Controversial beauty gurus Jeffree Star and James Charles are among those weighing in on the drama. The video received over 47,800 comments, many of which doubted the end result of the product and accused Nogueira of wearing synthetic lashes. " On January 26 he posted a TikTok video with the caption, "An UNsponsored Loreal Telescopic Mascara review." Beauty guru Alissa Ashley posted a TikTok video accusing Nogueira of, as she phrased it, "allegedly putting on a false lash to promote a mascara." Beauty YouTuber Raw Beauty Kristi also weighed in with a TikTok saying, "I think it's our responsibility and duty as influencers to keep our authenticity.

☆ NBA roundup: Lakers rally, end Grizzlies' 11-game win streak
▼ + stars: | 2023-01-21 | by ( ) www.reuters.com time to read: +7 min

Ja Morant scored 22 points while Brandon Clarke and Tyus Jones added 20 points each for the Grizzlies. Paul George chipped in 16 points and 12 assists, Marcus Morris Sr. scored 15 points and Ivica Zubac racked up 12 points and 16 rebounds. Murray finished with 29, going 14-for-25 from the field and adding 12 assists to record his sixth double-double of the season. Domantas Sabonis contributed 18 points, 14 assists and 14 rebounds as Sacramento notched its sixth straight victory, one shy of its season high. Gilgeous-Alexander also had seven assists but couldn't prevent the end of the Thunder's four-game winning streak.

SINGAPORE, Jan 20 (Reuters) - Japan's central bank appears to have scored an interim win in its long-drawn battle with bond bears. The Bank of Japan's (BOJ) policy meeting this week was, at first glance, a damp squib for excited markets. It maintained its cap on 10-year yields, defying market expectations for change, and modified a funds-supply operation such that it offers more money for longer tenors to banks. After Wednesday's decision to retain ultra-low rates, 10-year bond yields, which had been testing the BOJ's 0.5% cap for a week, settled below 0.4%, suggesting many speculators were closing positions. "Most people are concerned about market liquidity in the bond market," a senior trader at a global bank in Asia told Reuters.

☆ Morning Bid: Turbulence
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +2 min

Traders took Wednesday's weak U.S. production, retail sales and producer price data badly, selling risk assets and buying safer ones. Bond markets shrugged off hawkish rhetoric from non-voting Fed officials Bullard and Mester to rally. Fed voters Lael Brainard and John Williams might get more of markets' attention at events later in the day. Elsewhere, the dust is settling quickly on the Bank of Japan's decision not to bend to speculators' attack on its yield curve control policy. The yen has bounced back to where it was before the meeting and the Nikkei (.N225) slipped, though calm in Japan's bond market might suggest short sellers are having a breather before re-loading for meetings in March and April.

☆ NBA roundup: Grizzlies edge Cavs for 11th straight win
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +6 min

Jaden McDaniels put up 18 points for the Timberwolves, who lost their second game in a row. Kevin Huerter scored 18 points for the Kings, who went down by 14 points in the first quarter before pushing ahead by halftime. Andrew Nembhard produced 18 points and seven assists for the Pacers, who have dropped five consecutive games. Murray was 12-for-18 from the field and added seven rebounds and four assists. Jalen Green matched his career high with 41 points and added seven assists for the Rockets, who lost their 12th game in a row.

☆ Recessions risks knock stocks, speculators drawn back to yen
▼ + stars: | 2023-01-19 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The Nikkei dip and the bounce for the yen suggest such speculation is here to stay, at least for now. April was another possibility, she added, since by then the BOJ would have a new governor. "My guess would be that more speculators would look to build positions going into these meetings." Microsoft's announcement of 10,000 layoffs and hawkish comments from Cleveland Fed President Loretta Mester and St. Louis Fed President James Bullard added to the gloom, with both Fed officials expecting U.S. interest rates above 5% this year. The Australian dollar was last down 0.5% at $0.6907, losing ground after data showed an unexpected fall in Australian employment last month.

☆ Analysis: Japan's yen feels the heat from hard-line BOJ policy
▼ + stars: | 2023-01-18 | by ( Rae Wee | ) www.reuters.com time to read: +5 min

Speculators have looked instead to the yen, an easier target where their bets on BOJ policy have induced massive swings and historic levels of volatility. BIGGER YEN BETSAnalysts expect bets on the BOJ soon abandoning its yield curve control policy will get bigger and louder, for a number of reasons. James Athey, an investment director at fund manager abrdn, has held a long position on the yen for a while. We had a significant overweight on the Japanese yen, (and) in the aftermath, we took profit on some of our yen position," Athey said. "The debate around the future of BOJ policy is far from settled," said Howard Smith, partner and portfolio manager at Indus Japan Strategies.

☆ Bank of Japan keeps yield control policy unchanged
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +7 min

MARKET REACTION:The Japanese stock market cheered the BOJ's decision with the Nikkei share average (.N225) jumping more than 2% after the midday break. Therefore, among equities, we think Japanese financials sector will have a rerating of valuations over the next 3-6 months." That could escalate when the new governor of the bank will be announced and towards the policy meeting in March." MOH SIONG SIM, CURRENCY STRATEGIST, BANK OF SINGAPORE, SINGAPORE"The can has been kicked down the road and the attention will shift to the next meeting. CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE:"I think the speculations will still continue.

Search resuls for: "Westbrook"

25 mentions found