DIRS.INFO The most relevant business & tech news

☆ Morning Bid: Asia mood lifts as China's small steps add up
▼ + stars: | 2023-09-04 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 24, 2023. There was also much relief at Country Garden's deal with creditors for an extension on onshore debt payments worth 3.9 billion yuan ($537 million). As a result, Chinese blue chips are up another 1.2% on top of last week's 2.2% rally. Companies are holding an astonishing 555 trillion yen ($3.80 trillion) of earnings in reserve, which is more than the entire 447 trillion market capitalisation of the Topix. The market also foresees 107 basis points of easing next year, up from around 90 basis points early last week.

Persons: Wayne Cole, Treasuries, Cash, Christine Lagarde, Frank Elderson, Philip Lane, Fabio Panetta, Edmund Klamann Organizations: REUTERS, Staff, Nasdaq, Fed, Washington Post, Thomson Locations: Frankfurt, Germany, Wayne, China

☆ Australia Q2 business investment hits highest in 7-1/2 years
▼ + stars: | 2023-08-31 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

The central business district (CBD) of Melbourne can be seen from the area located along the Yarra River called Southbank located in Melbourne, Australia, July 27, 2016. Spending of A$37.58 billion ($24.43 billion) was the highest since late 2015, while investment in equipment reached a record peak of A$17.53 billion. Firms also lifted spending plans for the fiscal year to June 2024 to A$157.8 billion, up 14.5% on the previous quarter. Figures for gross domestic product (GDP) for the June quarter are due next week and analysts are tipping growth of only around 0.3%. ($1 = 1.5370 Australian dollars)Reporting by Wayne Cole; Editing by Christopher Cushing and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: David Gray, Nomura, Andrew Ticehurst, Wayne Cole, Christopher Cushing, Stephen Coates Organizations: REUTERS, Rights, Australian Bureau, Statistics, Reserve Bank of Australia, Investors, Thomson Locations: Melbourne, Southbank, Australia

☆ Morning Bid: Beijing tries new ways to lift moribund markets
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +3 min

A look at the day ahead in European and global markets from Wayne ColeChinese blue chips were enjoying a rare rally on Monday after Beijing rolled out more measures to support the market. If sustained that would be the second-biggest daily gain this year, which just goes to show how moribund the market has been. Reuters GraphicsElsewhere, Wall Street stock futures are a shade firmer with the market seemingly relieved that Fed Chair Powell wasn't out-and-out hawkish. So the onus is on the data to show a cool-down, or risk another rate hike. A result like that would see markets again scale back the risk of another Fed hike and offer a much-needed lift to Treasuries, where two-year yields are threatening the year's top - and a major chart bulwark - at 5.12%.

Persons: Wayne Cole, China Evergrande, Gina Raimondo, Powell wasn't, Martin Floden, Fed's Michael Barr, Edmund Klamann Organizations: China, HK, . Commerce, Wall Street, Fed, Atlanta Fed, PMI, payrolls, JPMorgan, Thomson Locations: Wayne, Beijing, Atlanta, Hollywood

☆ Asia shares rally as China measures boost market
▼ + stars: | 2023-08-28 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 1.4%, having eked out minor gains last week to break a three-week losing streak. The improvement in risk sentiment saw EUROSTOXX 50 futures add 0.7%, while FTSE futures were closed for a holiday. S&P 500 futures and Nasdaq futures both edged up 0.1%, extending last week's modest rise. "We take this to mean that the FOMC does not intend to hike at the September meeting," wrote analysts at Goldman Sachs. Oil prices drew some support from a sharp rise in U.S. diesel prices, though concerns about Chinese demand remains a drag.

Persons: Issei Kato, Federal Reserve Jerome Powell, Goldman Sachs, Christine Lagarde, Ben Broadbent, Kazuo Ueda, Brent, Wayne Cole, Shri Navaratnam, Stephen Coates Organizations: Nikkei, U.S, REUTERS, payrolls, China PMI, China, Sunday, Investors, PMI, Nomura, Japan's Nikkei, Nasdaq, Federal Reserve, JPMorgan, European Central Bank, Bank of England, Bank of Japan, Thomson Locations: Tokyo, Japan, China, SYDNEY, Beijing, Asia, Pacific, Hollywood, Friday's, U.S

☆ Stocks, yields rise as traders balance China, oil supply
▼ + stars: | 2023-08-21 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +4 min

While disappointment sent Asian shares lower, European shares rose on Monday and U.S. stock futures also pointed to a recovery there. ,Europe's STOXX 600 (.STOXX) index was up 0.7% by 1207 GMT, following last week's 2.3% drop, with energy companies outperforming as oil prices rose with tightening supply from Saudi Arabia offsetting demand concerns. Oil prices rose as much as $1 after snapping a seven-week winning streak last week on concerns about Chinese demand. Bond yields move inversely with prices. The ascent of the dollar and yields was weighing on gold at $1,894 an ounce , after it touched a five-month low last week.

Persons: Fed's Jackson, Susannah Streeter, Hargreaves Lansdown, Europe's, Brent, Jerome, Powell, Seema Shah, Jackson, Nvidia, Yoruk Bahceli, Wayne Cole, Dhara Ranasinghe, David Evans, Mark Potter Organizations: REUTERS, Staff, Treasury, Hargreaves, Global, U.S . Federal, U.S ., Thomson Locations: Frankfurt, Germany, China, Saudi Arabia, U.S ., Atlanta

☆ Asia stutters as China doles out meagre rate cut
▼ + stars: | 2023-08-21 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

China's central bank trimmed its one-year lending rate by 10 basis points and left its five-year rate unmoved, a surprise to analysts who had expected cuts of 15 basis points to both. Disappointment at the meagre move saw Chinese blue chips (.CSI300) ease 0.3%, while the Australian dollar took a dip as a liquid proxy for China risk. Analysts at Goldman Sachs, meanwhile, argue there is still scope for investors to add to equity positions. The ascent of the dollar and yields was weighing on gold at $1,887 an ounce , having touched a five-month low last week. Brent was up 38 cents at $85.18 a barrel, while U.S. crude bounced 45 cents to $81.70 per barrel.

Persons: Issei Kato, Fed's Jackson, Nvidia, Goldman Sachs, Jerome Powell, Powell, Marc Giannoni, Brent, Wayne Cole, Shri Navaratnam Organizations: REUTERS, Nikkei, China, Japan's Nikkei, FTSE, Nasdaq, Goldman, U.S, Jackson, Barclays, Thomson Locations: Tokyo, Japan, SYDNEY, China, Beijing, Asia, Pacific, Atlanta

☆ Australia July jobs take a surprise fall as market loosens
▼ + stars: | 2023-08-17 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

A worker pushes a trolley loaded with goods past a construction site in the central business district (CBD) of Sydney in Australia, March 15, 2018. REUTERS/David Gray/File Photo Acquire Licensing RightsSYDNEY, Aug 17 (Reuters) - Australia employment unexpectedly fell in July to end two months of very strong growth, while the jobless rate ticked higher in a sign the drum-tight labour market might finally be loosening. "Even so, the deterioration in the labour market has a long way to run before the RBA can completely relax." The labour market has proved remarkably resilient with 399,000 net jobs added in the 12 months to July even as interest rates have climbed 400 basis points to a decade-high of 4.1%. "It is getting harder to argue for a sustained lift in wage inflation momentum," said Justin Smirk, a senior economist at Westpac.

Persons: David Gray, Ben Udy, Justin Smirk, Wayne Cole, Jacqueline Wong, Sam Holmes Organizations: REUTERS, Rights, Bank of Australia, Australian Bureau of Statistics, ABS, Oxford Economics Australia, Westpac, Thomson Locations: Sydney, Australia

☆ Asia suffers China blues; dollar hits 2023 top on yen
▼ + stars: | 2023-08-14 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) eased another 1.1%, after shedding 2% last week. Japan's Nikkei (.N225) was off 0.5%, even as exporters drew support from the weak yen. The sour mood saw S&P 500 futures and Nasdaq futures shed early gains to each ease 0.1%. That rise juiced the dollar against the low-yielding yen, lifting it as far as 145.22 and a peak not seen since November last year. The rise in the dollar and yields was weighing on gold at $1,911 an ounce , having fallen for three weeks in a row.

Persons: Goldman Sachs, Brent, Wayne Cole, Shri Navaratnam, Sam Holmes Organizations: Nikkei, SYDNEY, Japan's Nikkei, Zhongrong International Trust Co, HK, Nasdaq, Amazon's, Federal, Goldman, Thomson Locations: China, Beijing, Russian, Black, Asia, Pacific, Japan

☆ Morning Bid: China property troubles plague Asia stocks
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Wayne Cole. Core inflation actually doubled to 0.8% y/y and the drop in consumer prices was largely driven by year-ago volatility in pork prices. That puts the focus on retail sales on Tuesday where a rise of 4.7% is forecast, though a wide range of estimates from +2.8% to +10.8% suggests a surprise is possible. The same goes for U.S. retail sales on Tuesday where the median is for a 0.4% increase, but BofA is tipping 0.7% based on credit and debit spending in the month. The dollar is also flying on the Aussie and kiwi and a range of emerging Asian currencies, which are being dumped as proxies for China risk.

Persons: Wayne Cole, It's, it's, Jacqueline Wong Organizations: Bank of Japan, Thomson Locations: Wayne, Asia, China, Beijing

☆ Asia shares on guard for US, China inflation risks
▼ + stars: | 2023-08-07 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> was a fraction firmer in thin trade, after losing 2.3% last week. Chinese blue chips (.CSI300) eased 0.7% with investors still disappointed at the lack of major and concrete stimulus steps from Beijing. Going the other way, S&P 500 futures added 0.4% and Nasdaq futures 0.5%. In China, the market is looking for further signs of deflation with annual consumer prices seen down around 0.5%, and producer prices falling 4%. Futures imply only a 12% chance of a Federal Reserve rate hike in September, and 24% for a rise by year-end.

Persons: Kim Kyung, Walt Disney, Goldman Sachs, Michael Gapen, Brent, Wayne Cole, Shri Navaratnam, Jacqueline Wong Organizations: Yen, REUTERS, Nikkei, SYDNEY, Japan's Nikkei, Bank of Japan, Nasdaq, News Corp, Goldman, Federal, Fed, U.S ., Thomson Locations: Tokyo, Japan, China, U.S, Asia, Pacific, Beijing, Ukraine

☆ Morning Bid: Caution the watchword for inflation tests
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +3 min

[1/2] Produce is seen at El Progreso Market in the Mount Pleasant neighborhood of Washington, D.C., U.S., August 19, 2022. REUTERS/Sarah Silbiger/File PhotoA look at the day ahead in European and global markets from Wayne Cole. It's been a slow start in Asia, with little in the way of market-moving news over the weekend. Both Bank of America and JPMorgan last week ditched their forecasts for a U.S. recession and embraced the soft landing theme. Inflation figures from the United States and China will be major tests for investors this week.

Persons: Sarah Silbiger, Wayne Cole, It's, Walt Disney, Huw Pill, Raphael Bostic, Michelle Bowman, Edmund Klamann Organizations: El Progreso Market, Washington , D.C, REUTERS, Nasdaq, Bank of Japan, Bank of America, JPMorgan, U.S, CPI, New Corp, Fox, Sony, Bank of England's, Atlanta Fed, Thomson Locations: Mount Pleasant, Washington ,, Wayne, Asia, U.S, United States, China, Beijing, Japan

☆ Australia retail sales extend losing stretch to a third quarter
▼ + stars: | 2023-08-03 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

REUTERS/Daniel Munoz/file photoSYDNEY, Aug 3 (Reuters) - Australian retail sales volumes fell again in the June quarter as cost of living pressures and rising borrowing costs ate into consumer spending power, hampering economic growth and weakening the case for further interest rate hikes. Data from the Australian Bureau of Statistics on Thursday showed real retail sales fell 0.5% in the second quarter to A$35.2 billion ($23.02 billion), matching analyst forecasts. "The widespread fall in sales volumes reflects what retailers have been telling us about consumers focusing on essentials, buying less or switching to cheaper brands," said Ben Dorber, ABS head of retail statistics. Since sales account for around 17% of gross domestic product, the drop will weigh on economic activity and analysts expect barely any growth in the quarter. Thursday's data showed retail prices rose 0.9% in the second quarter, up from 0.7% the previous quarter.

Persons: Daniel Munoz, Ben Dorber, Alan Oster, Oster, Wayne Cole, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: REUTERS, Australian Bureau, Statistics, Reserve Bank of Australia, NAB, Thomson Locations: Sydney's, Australia

☆ Australia holds rates steady, might be done tightening
▼ + stars: | 2023-08-01 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

Markets had leaned toward a steady outcome given recent data showed inflation had eased for a second quarter and consumer spending was softening. However, economists were more split on the outcome, with 20 out of 36 polled by Reuters expecting a hike. Swaps now implied a risk of around 13 basis points of tightening by year end. In a relief for policymakers, headline inflation slowed more than expected in the second quarter while retail sales posted their biggest fall this year in June. "While the RBA retains a tightening bias, we expect the hurdle to another rate hike is high.

Persons: Philip Lowe, Lowe, Michele Bullock, Belinda Allen, Goldman Sachs, Hebe Chen, Stella Qiu, Wayne Cole, Anisha Sircar, Sam Holmes Organizations: SYDNEY, Reserve Bank of Australia, Reuters, Commonwealth Bank of Australia, CBA, National Australia Bank, IG, Reuters Global Markets, Thomson

☆ Morning Bid: Beijing stimulus given benefit of the doubt
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +3 min

Yet that merely stoked wagers Beijing would have to dole up sizable stimulus at some point or risk social unrest, particularly with youth unemployment rising. So far, domestic investors seem to be giving Beijing the benefit of the doubt - foreign funds have been shunning Chinese stocks for a while. Any rise in Japan's paltry yields should, theoretically, be a plus for the yen and a negative for yen-funded carry trades. This in part reflects the still huge gulf between Japan rates and emerging markets and the fact that many carry trades are funded at one month rates and rolled over. Right now, investors can still borrow yen for one month at -0.1% to buy pesos and earn 11.1%.

Persons: Wayne Cole, China's, it's, That's, Austan Goolsbee, Sam Holmes Organizations: Beijing, Nikkei, Bank of Japan, Federal Reserve Bank of Chicago, Western Digital Corp, Aercap, Thomson Locations: Wayne, Beijing, Asia, Pacific, Japan, Chicago

☆ Asia shares up as China extends rally; Japanese yields a risk
▼ + stars: | 2023-07-31 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) climbed 1.1%, having gained almost 6% so far in July to reach a five-month high. Figures due this week include the U.S. ISM surveys on manufacturing and services, the July payrolls report and European inflation. Investors are still pondering the implications of Friday's shock decision by the Bank of Japan (BOJ) to lift the lid on bond yields, in a step away from its ultra-easy policies. Analysts at BofA estimate the BOJ's bond buying added $1.3 trillion to global liquidity in the past 18 months and provided a low floor for global rates, so any sustained rise in Japanese government bond yields could ripple though other bond markets. Japanese 10-year yields climbed further to 0.6% on Monday, still short of the new cap of 1.0%.

Persons: Yen, Bruce Kasman, Ray Attrill, Brent, Wayne Cole, Jamie Freed Organizations: Nikkei, Apple SYDNEY, Apple, JPMorgan, U.S, Bank of England, Reserve Bank of, Nasdaq, Apple Inc, Western Digital Corp, Caterpillar Inc, Starbucks Corp, Devices, Bank of Japan, National Australia Bank, Thomson Locations: China, Beijing, Asia, Pacific, Japan, Reserve Bank of Australia

☆ Slowing Australia Q2 inflation lessens rate hike pressure
▼ + stars: | 2023-07-26 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

In the first quarter, inflation was at 1.4%. That was balanced by a sharp fall in goods inflation, which slowed to an annual rate of 5.8% from 7.6% the quarter before. Adelaide Timbrell, senior economist at ANZ, said both headline and trimmed mean inflation are tracking below the RBA's forecast for the second quarter. "(The data) highlight that a 4.1% cash rate may be restrictive enough to bring inflation down. The RBA has warned that some further tightening may be required to bring inflation to heel.

Persons: Robert Carnell, Carnell, Adelaide Timbrell, Stella Qiu, Wayne Cole, Jacqueline Wong Organizations: Reserve Bank of Australia, Australian Bureau, Statistics, Wednesday, ING, ANZ, Thomson Locations: SYDNEY, Asia, Pacific

The euro slipped 0.25% against the dollar, government bond yields across the bloc edged lower while European stock markets dipped, with Spain's benchmark index down 0.65% in a clear underperformance. Meanwhile, U.S. stock futures , rose 0.2% and 0.3%, respectively, pointing to a positive open for Wall Street. With the Federal Reserve, European Central Bank and Bank of Japan meeting this week, a note of caution underpinned the mood across global markets. The benchmarks continued their fourth straight of week of gains last week, as supply is expected to tighten following OPEC+ cuts. HOST OF EARNINGSOn top of central bank meetings and economic data, investors also braced for a slew of earnings from both sides of the Atlantic.

Persons: Kai Pfaffenbach, Bruno Schneller, Schneller, Eddie Cheng, Allspring's Cheng, SPAIN UNDERPERFORMS, Fiona Cincotta, Nell Mackenzie, Dhara, Wayne Cole, Amanda Cooper, Peter Graff Organizations: REUTERS, Nasdaq, Fed, ECB London, Wall, Federal Reserve, European Central Bank and Bank of Japan, ECB, INVICO Asset Management, Bank of Japan, Japan's Nikkei, Allspring Global Investments, Brent, . West Texas, Intel, Microsoft, GE, Boeing, Exxon Mobil, Coca Cola, Ford, GM, U.S, Thomson Locations: Frankfurt, Germany, Spain, U.S, Spain's, Asia, Pacific, Japan, Ukraine, Russia, China, SPAIN, SPAIN UNDERPERFORMS Spain, Sunday's, Basque, Catalan, Coca, London, SYDNEY

☆ Asia shares brace for trio of rate meetings, China steps
▼ + stars: | 2023-07-24 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

China's Politburo meeting this week could see more stimulus announced, though investors have so far been underwhelmed by Beijing's actions. S&P 500 futures and Nasdaq futures were little changed ahead of a wave of earnings this week. The U.S. dollar eased a touch to 141.37 yen , having jumped 1.3% on Friday following the report on the BOJ. The rise in the dollar pulled gold back to $1,961 an ounce and away from last week's peak of $1,987. Oil prices ran into profit-taking early on Monday having climbed for four straight weeks amid tightening supplies.

Persons: Jerome Powell, Christine Lagarde, Powell, John Briggs, Goldman Sachs, Brent, Wayne Cole, Shri Navaratnam, Christopher Cushing Organizations: Nikkei, Fed, ECB, SYDNEY, U.S . Federal Reserve, European Central Bank, NatWest Markets, Bank of Japan, Reuters, Japan's Nikkei, HK, Nasdaq, Intel, Microsoft, GE, Boeing, Exxon Mobil, Coca Cola, Ford, Google, U.S, Thomson Locations: Europe, United States, Asia, Pacific, Japan, Coca, Spain

They are intended to complement traditional economic indicators such as gross domestic product, inflation and employment. "I think that they can be in concert and that is what the national wellbeing framework is all about." In a 127-page report titled "Measuring What Matters" issued to accompany the dashboard, the government painted a mixed picture of wellbeing. But measures of chronic health conditions, national security, biodiversity and fiscal sustainability had all declined. Several countries have attempted to diversify policymaking beyond economic benchmarks in recent years, most famously Bhutan, whose "gross national happiness" index is considered more important than GDP.

Persons: Carl Recine, Jim Chalmers, Wayne Cole, Alasdair Pal, Edwina Gibbs Organizations: Soccer Football, FIFA, REUTERS, Thomson Locations: New Zealand, Sydney, Australia, Bhutan

☆ Australia jobs jump again, heaping pressure on RBA
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: +3 min

The jobless rate held at a downwardly revised 3.5%, when analysts had expected 3.6%, leaving it just above the 3.4% trough from October last year. Markets moved to priced in a 42% probability that the Reserve Bank of Australia (RBA) would resume hiking rates in August, compared with 35% before the jobs data. Incoming RBA Governor Michele Bullock has said the jobless rate would need to rise to about 4.5% to curb inflation. "The hotter-than-expected jobs numbers... leave no room whatsoever for an upside surprise in next Wednesday's Q2 CPI data. However, pressure on the RBA to keep pace with its overseas counterparts on rate hikes has eased somewhat in recent weeks.

Persons: Michele Bullock, Tony Sycamore, Marcel Thieliant, Stella Qiu, Wayne Cole, Jacqueline Wong, Jamie Freed Organizations: SYDNEY, Australian Bureau, Statistics, Reserve Bank of Australia, Incoming, IG, Capital Economics, Reserve, European Central Bank, Bank of England, Thomson Locations: Australia

☆ US stocks rise on earnings outlook, global shares dip on China data
▼ + stars: | 2023-07-17 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. The tech-heavy Nasdaq led U.S. stocks higher, supported by megacap growth stocks including Apple, Nvidia and Tesla, ahead of quarterly results from industry heavyweights later this week. Second-quarter earnings are expected to decline 8.1%, according to Refinitiv data, down further than the 5.7% decline expected at the start of the month. Data on U.S. retail sales are expected to show a rise of 0.3% ex-autos, continuing the slower trend but solid enough to fit into the market's soft-landing theme. Futures are pricing in an additional 32 basis points of tightening this year, with the benchmark rate expected to peak at 5.40% in November.

Persons: Brendan McDermid, Morgan Stanley, Goldman, it's, Anthony Saglimbene, James Ragan, Brent, Herbert Lash, Karen Brettell, Amanda Cooper, Wayne Cole, Lincoln, Christina Fincher, Barbara Lewis, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Wall, Nasdaq, Apple, Nvidia, Tesla, Tesla Inc, Bank of America Corp, Goldman Sachs Group Inc, Netflix Inc, Dow Jones, Fed, Treasury, Reuters Graphics Oil, Thomson Locations: New York City, U.S, China, Troy , Michigan, Davidson, Seattle, Europe, New York, London, Sydney

☆ Global shares dip after China data; US stocks gain
▼ + stars: | 2023-07-17 | by ( Herbert Lash | ) www.reuters.com time to read: +5 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 12, 2023. The tech-heavy Nasdaq led U.S. stocks higher, supported by megacap growth stocks including Apple and Tesla, ahead of quarterly results from industry heavyweights later this week. Stocks in Europe closed lower, with the pan-regional STOXX 600 index (.STOXX) down 0.63% while MSCI's gauge of stocks across the globe (.MIWD00000PUS), which is heavily weighted to U.S. megacap stocks, edged higher by 0.14%. Futures are pricing in an additional 32 basis points of tightening this year, with the benchmark rate expected to peak at 5.40% in November. U.S. crude fell $1.27 to settle at $74.15 per barrel and Brent settled down $1.37 at $78.50.

Persons: Brendan McDermid, Morgan Stanley, Goldman, it's, Anthony Saglimbene, James Ragan, Brent, Herbert Lash, Karen Brettell, Amanda Cooper, Wayne Cole, Lincoln, Christina Fincher, Barbara Lewis Organizations: New York Stock Exchange, REUTERS, YORK, Nasdaq, Apple, Tesla, Tesla Inc, Bank of America Corp, Goldman Sachs Group Inc, Netflix Inc, Dow Jones, Fed, Treasury, Reuters Graphics Sterling, Bank of England, CBA, Thomson Locations: New York City, U.S, China, Troy , Michigan, Davidson, Seattle, Europe, New York, London, Sydney

☆ Global shares dip after China data; traders bet on Fed sea change
▼ + stars: | 2023-07-17 | by ( Amanda Cooper | ) www.reuters.com time to read: +4 min

This week's data macro calendar is light and Fed officials are in their "blackout period" ahead of their July policy meeting, leaving investors with the big question of whether last week's market moves will continue or reverse. U.S. stock index futures , erased earlier gains and were down 0.1% ahead of a packed week of corporate earnings. "We expect Fed officials cheered the latest inflation developments, but declaring victory with sub-4% unemployment, and over 4% core inflation, would be reckless." Copper , which is also highly sensitive to Chinese data, dropped 2.5% to $8,458 a ton. Additional reporting by Wayne Cole in Sydney; Editing by Lincoln Feast and Christina FincherOur Standards: The Thomson Reuters Trust Principles.

Persons: Michael Brown, Brown, Tesla, Morgan Stanley, Goldman Sachs, disinflation, Michael Feroli, Sterling, Wayne Cole, Lincoln, Christina Fincher Organizations: Global, Federal Reserve, Bank of America, Netflix, JPMorgan, Reuters, Treasury, Bank of England, CBA, Brent, Thomson Locations: China, Europe, Libya, Sydney

☆ Asia shares struggle as China fails to stimulate
▼ + stars: | 2023-07-17 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

China reported economic growth of 0.8% in the second quarter, above the 0.5% forecasted, while the annual pace slowed more than expected to 6.3%. That followed figures out over the weekend showed China's new home prices were unchanged in June, the weakest result this year. "Markets have already adjusted lower their expectations (for stimulus), and our base case is that there won't be a substantial package." MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.3%, though that follows a 5.6% rally last week. S&P 500 futures and Nasdaq futures were both off a fraction, but that followed hefty gains last week.

Persons: Carol Kong, Tesla, Morgan Stanley, Goldman Sachs, disinflation, Michael Feroli, Sterling, Brent, Wayne Cole, Lincoln Organizations: Japan's Nikkei, FTSE, Nasdaq, Bank of America, Netflix, JPMorgan, ., Bank of England, CBA, Thomson Locations: Japan, China, SYDNEY, Beijing, Asia, Pacific, Libya

☆ Asia shares slip as China data underwhelms
▼ + stars: | 2023-07-17 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

China reported economic growth of 0.8% in the second quarter, above the 0.5% forecasted, while the annual pace slowed more than expected to 6.3%. Industrial output topped forecasts with a rise of 4.4%, while retail sales missed by a tick at 3.1%. That followed figures out over the weekend showed China's new home prices were unchanged in June, the weakest result this year. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.2%, though that follows a 5.6% rally last week. S&P 500 futures and Nasdaq futures were both off 0.1%, but that followed hefty gains last week.

Persons: Carol Kong, Tesla, Morgan Stanley, Goldman Sachs, disinflation, Michael Feroli, Sterling, Brent, Wayne Cole, Lincoln Organizations: Japan's Nikkei, FTSE, Nasdaq, Bank of America, Netflix, JPMorgan, ., Thomson Locations: Japan, China, SYDNEY, Beijing, Asia, Pacific, Libya

Search resuls for: "Wayne Cole"

25 mentions found