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☆ Gold set for best week in 7 as dollar softens ahead of US jobs data
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +2 min

Bullion has climbed 1.8% this week, set for its best weekly gain since late December. Lower interest rates boost non-yielding bullion's appeal. Spot gold rose nearly 1% on Thursday after data from the U.S. Labor Department showed initial jobless claims rose more than expected last week. Fed Chair Jerome Powell pushed back on the idea of an interest rate cut in the spring, but expressed confidence in inflation moving towards the desired 2% range. Money market pricing shows traders are nothing but sure about a rate cut in May.

Persons: Brian Lan, Jerome Powell Organizations: Novosibirsk Refining Plant, Treasury, Federal Reserve, GoldSilver, U.S . Labor Department Locations: Novosibirsk, Russia, Singapore, U.S

☆ Dollar keeps tight ranges ahead of Fed, jobs data
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: +3 min

A Chinese 100 yuan banknote, a 1 U.S. dollar bill and a 50 euro banknote are lying on a table. The dollar was steady in the Asian morning, with market participants moving cautiously ahead of the two-day FOMC meeting that kicks off on Tuesday. "I suspect that the FOMC meeting will not be as dovish as current market pricing suggests," said Matt Simpson, senior market analyst at City Index. The data will give another indication of whether the world's largest economy remains strong after the Fed's aggressive hiking campaign. Sterling was last trading at $1.2716, holding firm ahead of the Bank of England's monetary policy meeting this week.

Persons: Jerome Powell, Matt Simpson, hasn't, Sterling, Wei Liang Chang Organizations: U.S . Department of Labor, U.S ., Central Bank, Bank, DBS, Fed Locations: U.S

☆ U.S. Troops Are Injured in Attack on Air Base in Iraq
▼ + stars: | 2024-01-21 | by ( Eric Schmitt | Alissa J. Rubin | ) www.nytimes.com time to read: +7 min

Israel and Iran have been locked in a shadow war for years, long before the latest war in Gaza began. They have traded covert attacks by land, sea and air, as well as online. Israel has conducted targeted killings of key Iranian figures and strikes aimed at crippling Iran’s nuclear and military capabilities. Syria is a close ally of Iran and a conduit for Iranian weapons shipments to its proxies, especially Hezbollah. Iran and Pakistan Israel’s war with Hamas in Gaza Clashes along Israel-Lebanon border Qatar Iranian strike targeting militants Saudi Arabia U.A.E.

Persons: Israel, Ebrahim Raisi, Israel —, SANA, Hojatallah Omidvar, Haj Sadegh Omidzade, General Omidvar, Sayyed Razi Mousavi, Ronen Bergman, Victoria Kim Organizations: Guards, Quds Force, Islamic, Hamas, Revolutionary Guards, Human Rights, SYria AFghanistan IRAQ Israel Iran Clashes, West Bank, Qatar, Qatar INdia Saudi Arabia U.A.E, Red Sea, TURKEY U.S, EGYPT Qatar Saudi Arabia U.A.E, SYria IRAQ Iran Israel Clashes, West Bank KUWAIT PAK, Qatar Iranian, Saudi Arabia U.A.E, Quds Forces, Brig, Senior Locations: Iran, Damascus, Israel, Gaza, Syria, Islamic Republic of Iran, Lebanon, Yemen, Gaza . Israel, Syrian, Britain, East TURKMENISTAN Syria, Iraq TURKEY Iran, SYria AFghanistan IRAQ Israel Iran, West, Gaza PAKISTAN KUWAIT Iran, Pakistan EGYPT, Qatar INdia Saudi Arabia, OMAN Red, YEMEN Sudan, Red, Red Sea U.S, Iraq TURKMENISTAN Iran, TURKEY, Gaza Iran, Pakistan KUWAIT PAKISTAN, EGYPT Qatar Saudi Arabia, Sudan YEMEN U.S, SYria IRAQ Iran Israel, Pakistan, Qatar, Saudi Arabia, OMAN, YEMEN, Iranian, Gen, Erbil, Kurdistan, Iraq, Israeli, United States

WASHINGTON (AP) — Taiwan’s top diplomat in Washington has a message for both the island's Chinese adversaries and its American friends: Don’t worry that Taiwan’s new president-elect will worsen relations with Beijing and possibly draw the U.S. into a conflict. But Yui said Lai is willing to engage with Beijing, even as the island seeks to strengthen its unofficial ties with Washington for stability in the region. Shortly after Taiwan's election, Biden told reporters that his administration does not support Taiwan’s independence. Yui said it is incumbent upon both Beijing and Taipei to keep the Taiwan Strait peaceful. Before he came to Washington, Yui briefly served as Taiwan's representative to the European Union and Belgium.

Persons: — Taiwan’s, Lai Ching, Alexander Tah, Ray Yui, Lai, Yui, ”, Taiwan's, Tsai Ing, Tsai, he’s, Xi Jinping, Joe Biden, Biden, Scott Kennedy, “, Kennedy, we're, We're, Mike Johnson, Sen, Ben Cardin, ” Yui, Hsiao Bi, Hsiao Organizations: WASHINGTON, Associated Press, AP, Democratic Progressive Party, ”, Washington, Center for Strategic, International Studies, Republican, Republicans, Democrats, U.S . Congress, Democratic, Senate Foreign Relations, M University, European Union, Cultural Locations: Washington, Beijing, Taiwan Strait, U.S, Taiwan, United States, China, Nauru, “ Beijing, Taipei, Panama, Texas, Paraguay, Belgium

LOS ANGELES (AP) — Japan's Sekisui House Ltd. is buying Denver-based homebuilder M.D.C. Holdings Inc. for $4.9 billion in a deal that would make the Japanese company the fifth-largest builder of new homes in the U.S. The companies said Thursday that they reached a definitive agreement for Osaka-based Sekisui to acquire M.D.C. Holdings for $63 per share. The all-cash offer translates to a roughly 19% premium over M.D.C. Holdings' closing stock price Wednesday. Political Cartoons View All 253 ImagesIn addition to the U.S. and Japan, Sekisui House has operations in Australia, the U.K., China and Singapore. Among the U.S. home construction brands it now operates are Woodside Homes, Holt Homes, Chesmar Homes and Hubble Homes.

Persons: Toru Tsuji, Sekisui, homebuilders Organizations: ANGELES, Sekisui, Holdings Inc, U.S, M.D.C, Holdings, M.D.C . Holdings, . Holdings, Richmond American Homes, Woodside Homes, Holt Homes, Chesmar, Hubble Homes, Residential Holdings Locations: Denver, Osaka, California , Florida , Texas, Japan, Australia, China, Singapore, U.S, Woodside, Sekisui

☆ Monday's analyst calls: 30% upside for GM, Carvana upgrade, Anheuser-Busch downgrade
▼ + stars: | 2023-12-04 | by ( Brian Evans | ) www.cnbc.com time to read: +7 min

So far this morning there is a big auto stock upgrade and a big beverage downgrade, among other calls. Morgan Stanley dimmed its view on Citizens Financial , downgrading the stock to equal weight from overweight but maintained its $31 per share price target, implying roughly 9% upside. The firm made the chipmaker its top large cap pick on Monday, and reiterated an overweight rating alongside a $620 per share price target. The analyst raised his price target from $25 to $40, which represents 14% upside. "We continue to see ABI's broadly EM focused sales exposure as attractive combined with the company's market leading market share positions," analyst Mitch Collett said.

Persons: Morgan Stanley, Manan, Brian Evans, Piper Sandler, Piper Sandler's, Harsh Kumar, Kumar, Wells, Ike Boruchow, Boruchow, — Brian Evans, JPMorgan's Rajat Gupta, Carvana, John Melloy, Bud Light, Mitch Collett, Vijay Rakesh, Rakesh Organizations: CNBC, East West Bancorp, Citizens Financial, Citizens, West Bancorp, Nvidia, TAM, Wells, JPMorgan Carvan, JPMorgan, Deutsche Bank downgrades Anheuser, Busch, Deutsche Bank, Anheuser, Busch InBev, Staples, Beverages, Mizuho Securities Mizuho Securities, General, United Auto Workers, GM, Vehicles, UAW Locations: China, Wells, Friday's, North America, N.A

Japan, a key U.S. ally, had sought the suspension of all non-emergency V-22 Osprey flights over its territory after one fell into the sea on Wednesday in western Japan. Japan's Coast Guard has said one person was found and confirmed dead, and the search for the remaining seven aboard continues. The Pentagon said on Thursday that it was still flying Ospreys for now, and that it was not aware of any official request for their grounding. "We are concerned that despite our repeated requests, and in the absence of sufficient explanation (from the U.S. military), the Osprey continues to fly," he told a news conference. The Japan Self-Defense Forces (SDF), which also operates Ospreys, has said it would suspend flights of the transport aircraft.

Persons: Hirokazu Matsuno, Yoko Kamikawa, Rahm Emanuel, Robert Dujarric, Dujarric, Mariko Katsumura, John Geddie, Chang, Ran Kim, Gerry Doyle Organizations: Kyodo, REUTERS Acquire, Rights, Japan's Coast Guard, Pentagon, Ospreys, U.S ., Japan Self - Defense Forces, U.S, Pacifist Japan, U.S . Marine Corps, Tokyo's Temple University, Thomson Locations: Kagoshima prefecture, Japan, U.S, Tokyo

☆ PGA Tour commissioner says he's talking to possible investors ahead of Saudi deal deadline
▼ + stars: | 2023-11-29 | by ( Drew Richardson | ) www.cnbc.com time to read: +4 min

PGA Tour Commissioner Jay Monahan speaks during a press conference prior to the TOUR Championship at East Lake Golf Club on August 24, 2022 in Atlanta, Georgia. PGA Tour Commissioner Jay Monahan said Wednesday that the organization is talking to several potential investors as a deadline to clinch a deal with Saudi Arabia's Public Investment Fund rapidly approaches. LIV and the PGA Tour were engaged in an antitrust legal battle dating back to last year. The deal had the PGA Tour retaining control in the face of an existential threat, he added. The PIF and "likely another co-investor with significant experience in business and sports will help the PGA Tour take share from other sports and be even more competitive."

Persons: Jay Monahan, " Monahan, Yasir bin Othman Al, Saudi Crown Prince Mohammed bin Salman, Monahan, LIV Golf, LIV, Phil Mickelson, Tiger Woods, Rory McIlroy, Saud Arabia's Organizations: East Lake Golf Club, PGA, Saudi Arabia's Public Investment Fund, The New York Times, Saudi Crown, PGA Tour, Public Investment Fund, Boston Red Sox, Fenway Sports Group, Endeavor Group Holdings, Endeavor Locations: Atlanta , Georgia, Saudi

☆ Far-right anti-Islam candidate clinches shock Dutch election win. Here's what comes next
▼ + stars: | 2023-11-23 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Dutch voters have gone to the polls today in one of the most tightly contested general elections in recent years. Next stepsForming a coalition in the 150-seat Dutch parliament is typically lengthy and difficult, even where the victor is not a political pariah. There is still no guarantee Wilders will become the new prime minister, even with his Freedom Party (PVV)'s 37 seats. On fiscal policy, Wilders' party has a "clear populist" bent, said Ester Barendregt, chief economist at Rabobank. Certainly one wish of Geert Wilders is to pay less to Europe.

Persons: Geert Wilders, Carl Court, shockwaves, Wilders, Mark Rutte, Sarah de Lange, Pieter Omtzigt's, de Lange, CNBC's, Ester Barendregt, Barendregt, Liza Mügge Organizations: Party for Freedom, Getty, European Union, Freedom Party, Department of Political Science, University of Amsterdam, Party, Rabobank Locations: SCHEVENINGEN, NETHERLANDS, Dutch, Scheveningen , Netherlands, Netherlands, Brussels, Ukraine, policymaking, U.S, China, Europe

The head office of Dutch financial insurance company Aegon is seen in The Hague, October 28, 2008. Dutch insurer Aegon tapped into government funding on Tuesday, taking 3 billion euros ($3.7 billion) to strengthen its capital base eroded by investment losses and exposure to risky investments. REUTERS/Stringer/File Photo Acquire Licensing RightsNov 16 (Reuters) - Dutch Insurer Aegon (AEGN.AS) raised its annual capital generation forecast on Thursday after topping third-quarter expectations on the same metric, driven by a strong performance in the key U.S. market. The company expects operating capital generation from its units to be around 1.2 billion euros ($1.3 billion) this year, compared with a prior target of more than 1 billion. Aegon's Americas region, which mostly consists of its U.S. business, represented two-thirds of the group's operating capital generation in the quarter.

Persons: Stringer, Matt Rider, Rider, Gaelle Sheehan, Victor Goury, Milla Nissi, Christopher Cushing Organizations: Aegon, REUTERS, U.S, Metlife, World Financial, Reuters, Thomson Locations: The Hague, Eastern, U.S, Americas, Netherlands, Laffont, Gdansk

Courthouse in Boston, Massachusetts, U.S., November 28, 2018. The U.S. government meanwhile seized the domains for two websites tied to the prostitution ring, authorities said. Defense lawyers for the trio either did not respond to requests for comment or could not be immediately identified. Customers were charged $350 to $600, depending on the services and included politicians, pharmaceutical and technology executives, doctors, military officers, professors, lawyers, business executives, scientists and accountants, prosecutors said. Reporting by Nate Raymond in Boston, Editing by Alexia Garamfalvi; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: John Jospeh Moakley, Katherine Taylor, Josh Levy, Han Lee, Junmyung Lee, James Lee, Levy, We're, Nate Raymond, Alexia Garamfalvi, David Gregorio Our Organizations: Courthouse, REUTERS, Rights BOSTON, U.S, Thomson Locations: John Jospeh Moakley U.S, Boston , Massachusetts, U.S, Boston, Virginia, Massachusetts, California, Massachusetts , Virginia, Cambridge, Watertown , Massachusetts, Fairfax, Tysons , Virginia

Israeli airstrikes hit two refugee camps in the central Gaza Strip on Sunday, killing scores of people, health officials said. The strikes came as the U.S. keeps urging Israel to take a humanitarian pause from its relentless bombardment of Gaza and rising civilian deaths. U.S. Secretary of State Antony Blinken traveled to Ramallah in the West Bank for a previously unannounced meeting with Palestinian President Mahmoud Abbas. Political Cartoons View All 1234 ImagesCurrently:— Gaza has lost telecom contact again, while Israel’s military announces it has surrounded Gaza City. — A U.N. official says the average Palestinian in Gaza is living on two pieces of bread a day.

Persons: Israel, Antony Blinken, Mahmoud Abbas, Blinken, Mohammed Shia, Benjamin Netanyahu, Joe Biden, evacuee Sara El, Masry, –, JORDAN, Jordan, King Abdullah II, ”, Michael Hertzog, ” Hertzog, OBAMA, Barack Obama, “, he’s, ” Obama, I’ve, Alp Toker, Juliette Touma, Ayatollah Ali Khamenei, Ismail Haniyeh, IRNA, Khamenei, Haniyeh, JERUSALEM —, Jacob Lew, Biden, ” Lew, Isaac Herzog, Lew, Antony Blinken’s Organizations: West Bank, Iraqi, Hamas, Ministry, WHO, GAZA, SYDNEY AIRPORT SYDNEY, Nine, Sydney Airport, Australian, United Arab Emirates, Mideast, Central Command, FIRE, NATIONS, Inter, Agency, UNRWA, United Nations, Jordanian, Twitter, ISRAEL, CBS, JERUSALEM, Paltel, Associated Press, Hezbollah, U.S, Israel, Embassy, . Riot Locations: Gaza, Ramallah, Baghdad, Jordan, Israel, United States, Egypt, Qatar, Gaza City, —, U.S, Berlin, israel, Sydney, Rafah, DUBAI, United Arab, Suez, ., Ohio, America's, Iran, UN, Palestinian Territory, GAZA AMMAN, Jordanian, GAZA, Palestinian, IRAN, TEHRAN, Lebanon, GAZA JERUSALEM, Beit Hanoun, TURKEY, ISTANBUL –, Ankara, Turkish

The Hamas-run government said airstrikes killed and wounded many people, but the exact toll was not yet known. The toll from Tuesday's strikes was also unknown, though the director of a nearby hospital said hundreds were killed or wounded. Dozens of people could be seen entering the Rafah crossing — the only one currently operating — and ambulances carrying wounded Palestinians exited on the Egyptian side. Egypt had earlier said that more than 80 Palestinians — out of many thousands wounded in the war — would also be brought in for treatment. Over 1,400 people have died on the Israeli side, mainly civilians killed during Hamas’ initial attack, also an unprecedented figure.

Persons: Israel, Ayman al, Israel “, Wael Abu Omar, Mohamed Zaqout, Paltel, ” Alp Toker, Cross, ”, Jessica Moussan, Antony Blinken, Mahmoud Abbas, Daniel Hagari, “, ___ Magdy, Wafaa Shurafa, Amy Teibel Organizations: Hamas, Wednesday, Palestinian, Authority, Health Ministry, Associated Press, POWER, COMMUNICATIONS, Committee, ICRC, Palestinian Health Ministry, Palestinian Authority, West Bank, U.S Locations: RAFAH, Gaza, Gaza City, Jordan, Israel, U.S, Egypt, GAZA, Rafah, Palestinian, Turkish, Gaza’s, Syria, Iran, Eilat, Red Sea, Yemen, Cairo, Deir al, Jerusalem, israel

Now, frontier AI has become the latest buzzword as concerns grow that the emerging technology has capabilities that could endanger humanity. The debate comes to a head Wednesday, when British Prime Minister Rishi Sunak hosts a two-day summit focused on frontier AI. In a speech last week, Sunak said only governments — not AI companies — can keep people safe from the technology’s risks. Frontier AI is shorthand for the latest and most powerful systems that go right up to the edge of AI’s capabilities. That makes frontier AI systems “dangerous because they’re not perfectly knowledgeable,” Clune said.

Persons: —, Rishi Sunak, It’s, Kamala Harris, Ursula von der Leyen, Google’s, Alan Turing, Sunak, ”, Jeff Clune, Clune, Elon, Sam Altman, He’s, Joe Biden, Geoffrey Hinton, Yoshua, ” Clune, “, it's, Francine Bennett, Ada Lovelace, Deb Raji, ” Raji, it’s, shouldn’t, Raji, DeepMind, Anthropic, Dario Amodei, Jack Clark, ’, Carsten Jung, Jill Lawless Organizations: British, U.S, European, University of British, AI Safety, European Union, Clune, Ada, Ada Lovelace Institute, House, University of California, ” Tech, Microsoft, Institute for Public Policy Research, Regulators, Associated Press Locations: Bletchley, University of British Columbia, State, EU, Brussels, China, U.S, Beijing, London, Berkeley

☆ Morning Bid: Market bounce sets up Fed-dominated week ahead
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +5 min

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. A worrying late-year stock market unwind is starkest in small-cap indexes (.RUT) now tracking year-to-date losses of some 7% - even as the benchmark S&P500 (.SPX) remains up 7% and Big Tech leaders of the Nasdaq 100 are still 30% (.NDX) higher. Annual earnings growth for S&P500 companies is now expected to have picked up to a 4.3% annual growth rate, according to LSEG estimates, from as low as 1.6% before the reporting season began. But beyond Fed policy rates, it's the restive bond market and near 16-year-high long-term borrowing costs that are starting to hurt most. U.S. 10-year Treasury yields held steady at 4.85% - well below the 5% threshold they breached last week.

Persons: Brendan McDermid, Mike Dolan, keener, Russell, China Evergrande, Simon Property, Louis, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Big Tech, Nasdaq, Tech, Federal Reserve, Detroit's Big, Apple, HSBC HSBA.L, Swiss, Swiss National Bank, Bank of Japan, China, HK, Dallas Fed, Western Digital, FMC, Arista Networks, Arch, Semiconductor, Treasury, Reuters, Louis Fed, Reuters Graphics Reuters, Thomson Locations: New York City, U.S, Gaza, London, Europe, Hong Kong, Loews, St

☆ Ford shares fall 9% after earnings underline worries about costs and EV plans
▼ + stars: | 2023-10-27 | by ( John Rosevear | In Jrosevear | ) www.cnbc.com time to read: +2 min

Ford Motor Company's electric F-150 Lightning on the production line at its Rouge Electric Vehicle Center in Dearborn, Michigan, on Sept. 8, 2022. Shares of Ford Motor traded sharply lower Friday after the company reported earnings that missed estimates and said that demand for its electric vehicles was falling short of expectations. Ford reported its third-quarter results after the markets closed Thursday, and they weren't what Wall Street had expected. Ford on Wednesday night became the first of the three Detroit automakers to reach a tentative agreement with the UAW. Ford also withdrew its previous financial guidance for 2023 in light of the pending deal with the UAW.

Persons: General Motors, John Lawler, Jim Farley's, Ford Organizations: Ford, Electric Vehicle, Ford Motor, United Auto Workers, General, Wall, Detroit, UAW, Tesla Locations: Dearborn , Michigan, Kentucky, U.S, North America

RAFAH, Gaza Strip (AP) — Israeli troops and tanks briefly raided northern Gaza overnight, the military said Thursday, engaging with Hamas fighters and targeting anti-tank weapons in order to “prepare the battlefield” before an expected ground invasion. Israel has imposed a suffocating siege on Gaza since Hamas’ bloody rampage and hostage-taking across southern Israel ignited the war. The Israeli military says it only strikes militant targets and accuses Hamas of operating among civilians in an attempt to protect its fighters. That is more than three times the number of Palestinians killed in the six-week-long Gaza war in 2014. On Wednesday, the wife, son, daughter and grandson of Wael Dahdouh, a veteran Al-Jazeera correspondent in Gaza, were killed in an Israeli strike.

Persons: Khan Younis, Israel, Benny Gantz, ”, Daniel Hagari, ” Israel, Wael Dahdouh, William Schomburg, “, ___ Chehayeb, Wafaa, Jack Jeffery, Brian Melley Organizations: Health Ministry, Hamas, ’, West Bank, The United, Gaza Health Ministry, Al, UNRWA, International Committee, World Health Organization, Shifa, United Nations, United Locations: RAFAH, Gaza, Israel, Petah Tikva, Iranian, Lebanon, Syria, The United States, Jazeera, Palestinian, Egypt, Jordan, Bahrain, United Arab Emirates, Saudi Arabia, Oman, Qatar, Kuwait, Morocco, Beirut, Teibel, Jerusalem, Deir al, Cairo, London

☆ Dollar dips ahead of key US data, bitcoin soars
▼ + stars: | 2023-10-24 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsTOKYO, Oct 24 (Reuters) - The dollar softened against a basket of currencies on Tuesday, mirroring a dip in Treasuries yields as investors awaited key U.S. economic data before the Federal Reserve's monetary policy meeting next week. The dollar index last sat around 105.57, having lost over 0.5% in the previous session as U.S. Treasury yields tumbled. Bitcoin returned the market spotlight with the virtual currency soaring on speculation that the United States could soon approve a bitcoin exchange-traded fund. The PMI data could set the market expectations ahead of the GDP report, said Matt Simpson, senior market analyst at City Index. Traders see the 150 threshold as a possible line-in-the-sand for Japanese authorities to intervene in the currency market.

Persons: Dado Ruvic, Jerome Powell, Bitcoin, Matt Simpson, Kyle Rodda, bitcoin, Brigid Riley, Sam Holmes Organizations: REUTERS, Rights, Federal, Treasury, PMI, Fed, European Central Bank, Traders, Capital.com, Thomson Locations: United States

☆ Dollar dips ahead of key U.S. data, bitcoin soars
▼ + stars: | 2023-10-24 | by ( ) www.cnbc.com time to read: +2 min

The dollar softened against a basket of currencies on Tuesday, mirroring a dip in Treasuries yields as investors awaited key U.S. economic data before the Federal Reserve's monetary policy meeting next week. The dollar index last sat around 105.57, having lost over 0.5% in the previous session as U.S. Treasury yields tumbled. Bitcoin returned the market spotlight with the virtual currency soaring on speculation that the United States could soon approve a bitcoin exchange-traded fund. The PMI data could set the market expectations ahead of the GDP report, said Matt Simpson, senior market analyst at City Index. Traders see the 150 threshold as a possible line-in-the-sand for Japanese authorities to intervene in the currency market.

Persons: Jerome Powell, Bitcoin, Matt Simpson, Kyle Rodda, bitcoin Organizations: Federal, Treasury, PMI, Fed, European Central Bank, Traders, Capital.com Locations: United States

☆ Fed Rate Moves Squeeze a Key U.S. Ally
▼ + stars: | 2023-10-23 | by ( Frances Yoon | ) www.wsj.com time to read: 1 min

Currency traders at KEB Hana Bank’s headquarters in Seoul. Photo: Ahn Young-joon/Associated PressSouth Korea’s alliance with the U.S. has strengthened during the Biden presidency. But the country’s economy has fallen victim to the rapid rise in U.S. interest rates, showing how Federal Reserve decisions—and the uncertainty around them—can send ripples around the world. The Fed has embarked on a historic spree of interest-rate rises since early 2022, an attempt to rein in inflation that peaked at 9.1% in the middle of last year. Central banks across the globe have followed these moves, partly out of a desire to protect their currencies, which can suffer as rising Treasury yields encourage international investors to dump overseas assets and buy U.S. bonds.

Persons: Hana Bank’s, Ahn Young Organizations: Associated Press, U.S, Biden, Fed Locations: Seoul

SEOUL, South Korea (AP) — The South Korean, U.S. and Japanese militaries conducted their first-ever trilateral aerial exercise on Sunday in response to evolving North Korean nuclear threats, South Korea’s air force said. The drill involved a nuclear-capable B-52 bomber from the United States and fighter jets from South Korea and Japan, the statement said. South Korea and Japan are both key U.S. allies in Asia, which together host about 80,000 American troops. The North slammed the Camp David agreement, accusing the U.S., South Korean and Japanese leaders of plotting nuclear war provocations on the Korean Peninsula. North Korean leader Kim Jong Un called Yoon, Biden and Kishida “the gang bosses” of the three countries.

Persons: Yoon Suk, Yoon, Joe Biden, Fumio Kishida, David, Kim Jong, Biden, Kishida, ” Organizations: U.S, Japanese, Camp David Locations: SEOUL, South Korea, U.S, United States, Japan, Asia, North Korea, Korean

☆ What tie-ups in the U.S. oil patch could mean for players like Coterra Energy
▼ + stars: | 2023-10-19 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +6 min

While we don't own companies as mergers-and-acquisition plays, the potential for more tie-ups could have significant implications for our remaining oil name: Coterra Energy (CTRA). Chevron's market cap is around $324 billion, while ConocoPhillips is worth roughly $152 billion, based on Thursday's stock prices. Companies in this basket could include Coterra, Devon Energy (DVN) and Diamondback Energy (FANG). Coterra is valued at roughly $22.4 billion Thursday, while Devon and Diamondback are valued at $31.7 billion and $30.5 billion, respectively. The shift has generally been positive for the stock prices of oil companies.

Persons: Gabriele Sorbara, Siebert Williams Shank, Nitin Kumar, I'm, Kumar, Pioneer's, Devon, Paul Cheng, Cheng, Jim Cramer's, Mizuho's Kumar, Jim Cramer, Jim, Paul Ratje Organizations: Exxon Mobil, Natural Resources, Coterra Energy, Exxon, Co, Chevron, ConocoPhillips, Mizuho Securities, Companies, Devon Energy, Diamondback Energy, Marathon, Bloomberg, Scotiabank, Pioneer, Jim Cramer's Charitable Trust, CNBC, Afp, Getty Locations: U.S, West Texas, New Mexico, Coterra, Devon, Oklahoma, Houston

A view of a Nvidia logo at their headquarters in Taipei, Taiwan May 31, 2023. U.S. officials asked for input in devising a "tamperproof" way to keep systems that might contain up to 256 AI chips from being strung together into a supercomputer. The other primary gift that U.S. officials gave Nvidia, Intel and AMD was hobbling their most capable Chinese competitors. New rules will make it nearly impossible for Moore Threads and Biren, two well-funded Chinese startups founded by Nvidia veterans, to have their designs manufactured using cutting-edge chipmaking technology. That means whatever Nvidia is able to sell to China will likely be Chinese buyers' best legal option.

Persons: Ann Wang, ChatGPT, Thomas Krueger, They're, Moore, Piper Sandler, Dan Hutcheson, Japan's, Clete Willems, Akin Gump, Gregory Allen, David Kanter, Stephen Nellis, Max A, Kenneth Li, Jamie Freed Organizations: REUTERS, FRANCISCO, Biden, Nvidia, Intel, Devices, U.S . Bureau of Industry and Security, U.S . National Security Council, BIS, AMD, Japan's Nikon, U.S, Center for Strategic, International Studies, Real, Thomson Locations: Taipei, Taiwan, China, U.S, Netherlands, Japan, San Francisco

Then came the Hamas attack against Israel, which has made Netanyahu’s late October trip uncertain and put Beijing's Middle East approach to the test. China’s stated neutrality on the war has upset Israel, but Beijing may gain in the long run by forging closer ties with Arab countries, experts said. “For a while at least, Beijing’s Middle East policy is paralyzed by the war,” said Shi Yinhong, professor of international relations at Beijing-based Renmin University of China. “China’s engagement in the Middle East is set to increase during this conflict. Because we need to be the bridge.”But China's proposals to end the war have been seen as benefiting Russia.

Persons: Xi Jinping, Benjamin Netanyahu, China’s, Israel, ”, Shi Yinhong, hasn't, Zhai Jun, Zhai, ” Wang Yi, ” Wang, Antony Blinken, Wang, Maria Papageorgiou, Mohammad Eslami, “, Tuvia, ” Gering, Wang Yiwei, Dale Aluf, China's, Aluf, Yaqiu Wang, Ken Moritsugu, Wanqing Chen, Matthew Lee Organizations: WASHINGTON, —, Renmin University of China, State Department, Hezbollah, University of Exeter, University Minho, Israel, China Policy Center, Institute for National Security, Kremlin, Renmin University, Israel Global Network, Freedom, Associated Press, AP Locations: Beijing, China, Israel, U.S, Iran, Tel Aviv, Palestine, Ukraine, Xinjiang, Xi, Saudi Arabia, United States, Russia, Hong Kong, Taiwan, Communist, Riyadh

☆ US oil is back, and ExxonMobil's $60 billion deal isn't even the biggest signal
▼ + stars: | 2023-10-15 | by ( Tim Mullaney | ) www.cnbc.com time to read: +8 min

The news came a day after a $60 billion deal between Exxon Mobil and independent oil producer Pioneer Natural Resources . Monthly production topped out at 13 million barrels per day in November 2019 and hit 9.9 million by February 2021. And offshore oil drilling in the Gulf of Mexico recovered to 2 million barrels a day, but hasn't grown. Where oil companies have been spending their money U.S. oil companies cut capital spending to $106.6 billion last year from $199.7 billion in 2014, according to Statista, contributing to the decline in oil production and arguably delaying the recovery. According to Energy Department data, oil and gas companies paid out about $75 billion per quarter in the last year.

Persons: Brittany Sowacke, Rob Thummel, hasn't, what's, Thummel, Alexandre Ramos, Jay Hatfield, doesn't, Baker, Hughes, Darren Woods, Woods, Hatfield, Ramos, Peon, aren't Organizations: Bloomberg, Getty, Energy, U.S . Department of Energy, Exxon Mobil, Natural Resources, Wall, Exxon, Big Oil, America, Rystad Energy, Oil, Infrastructure Capital Advisors, Energy Department, Pioneer, CNBC, Chevron, PDC Energy, Noble Energy, Independent, Global, ExxonMobil, OPEC, Iran Locations: Midland , Texas, Brittany, Kansas City, Mo, U.S, Oklahoma, North Dakota, Alaska, Gulf, Mexico, Texas, New Mexico, Colorado, New York, American, Hatfield, Israel, Iran

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