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☆ Oil eases from highest in weeks, investors eye Fed rate cuts
▼ + stars: | 2024-12-16 | by ( ) www.cnbc.com time to read: +1 min

Oil futures eased from their highest levels in weeks as investors awaited a meeting of the Federal Reserve later this week for indication of further rate cuts. Oil prices were bolstered by new European Union sanctions on Russian oil last week and expectations of tighter sanctions on Iranian supply, IG market analyst Tony Sycamore said in a note. Fresh U.S. sanctions on entities trading Iranian oil are already driving prices of the crude sold to China to the highest in years. Oil prices were also supported by key central bank interest rate cuts in Canada, Europe and Switzerland last week and expectations the Fed will cut rates this week, Sycamore said. Lower interest rates can boost economic growth and demand for oil.

Persons: Brent, Tony Sycamore, Janet Yellen, Trump, Sycamore Organizations: Federal Reserve, . West Texas, Union, Treasury, Reuters Locations: Russia, Iran, Ukraine, Fresh U.S, China, Canada, Europe, Switzerland

☆ China stocks see best week since 2008 on stimulus impact as most Asia markets rise
▼ + stars: | 2024-09-27 | by ( Lim Hui Jie | ) www.nbcnews.com time to read: +4 min

Chinese markets clocked their best week in almost 16 years as the mainland’s CSI 300 rallied 15.7% this week, buoyed by several economic stimulus measures by the central bank. The last time the index saw a bigger weekly gain was the week ending Nov. 14, 2008. Hong Kong’s Hang Seng index recorded a weekly gain of 12.75%, making it the index’s best week since February 1998, according to FactSet data. Tokyo’s headline inflation rate eased to 2.2%, down from August’s 2.6%. A slate of fresh U.S. economic data also supported the market’s gains, with weekly jobless claims falling more than expected, pointing to a steady labor market.

Persons: Hong, PBOC, Shigeru Ishiba, Sanae Takaichi, Korea’s Kospi, Australia’s, ’ Organizations: CSI, People’s Bank of China, Google, Shanghai Stock Exchange, Reuters, Japan’s Nikkei, of Japan, U.S ., Micron Technology, Nasdaq, Dow Jones Industrial Locations: China, Shanghai, Asia, Pacific, Tokyo, August’s, U.S

☆ Wall Street is turning less bullish on tech darling ASML for several key reasons
▼ + stars: | 2024-09-09 | by ( Ryan Browne | ) www.cnbc.com time to read: +7 min

Analysts at major Wall Street banks are getting more cautious on chip darling ASML , raising concerns about the critical chip equipment maker's demand outlook. Earlier this week, investment bank UBS downgraded ASML to "neutral" and cut its price target on the stock to 900 euros ($1,000.78) from 1,050 euros previously. Other Wall Street banks have subsequently come out with their own respective analyses on ASML — and they're more downbeat than they were before. The bank remains bullish on the stock, though, keeping ASML in its top pick for EU semiconductor equipment stocks. UBS cautioned ASML's machines could face a slowdown in demand due to an "architecture shift" to gate all around architecture, or GAA.

Persons: Morgan Stanley, ASML, ASML's, Morgan Stanley's, EUV, Biden, Christophe Fouquet, Jefferies Organizations: UBS, Intel, Bank of America, ASML's, Samsung, Nvidia, SK Hynix, Base Management, Dutch, Citi, Investment Locations: ASML, U.S, China, New York

☆ European markets head for negative open as inflation worries persist
▼ + stars: | 2024-06-27 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

A photo shows the bell during a bell ceremony of the Euronext Brussels Stock Exchange in Brussels on March 18, 2024. LONDON — European stocks are expected to open in negative territory Thursday as global inflation worries continue to rattle markets. Global market attention is shifting toward fresh U.S. inflation data on Friday, with May's personal consumption expenditures price index, the U.S. Federal Reserve's preferred inflation gauge, due to be released. Data releases in Europe Thursday include Italy's latest consumer and business confidence numbers, and Spanish retail sales. An EU leader' summit begins in Brussels on Thursday and the Bank of England publishes its latest Financial Stability Report.

Persons: Germany's DAX Organizations: Euronext Brussels Stock Exchange, LONDON, CAC, IG, Global, U.S, U.S . Federal, U.S ., Bank of England Locations: Brussels, U.S ., Asia, Pacific, Europe, EU

☆ European markets head for positive open as global chip stocks stabilize
▼ + stars: | 2024-06-26 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

A Trader works on the floor of the New York Stock Exchange in New York City, June 24, 2024. LONDON — European stocks are expected to open higher Wednesday, reversing negative sentiment seen in the previous trading session. The positive open anticipated for European markets comes after rocky trade in the region, and elsewhere globally, after a tech-driven selloff — although volatility in the sector appeared to stabilize after chipmaking giant Nvidia rallied Tuesday. Wall Street is likely to shift its attention toward fresh U.S. inflation data on Friday with the release of May's personal consumption expenditures price index, the U.S. Federal Reserve's preferred inflation gauge. Data releases in Europe on Wednesday include Germany's GFK consumer survey for July and European consumer confidence data for June.

Persons: Germany's DAX Organizations: New York Stock Exchange, LONDON, CAC, IG, Nvidia, U.S, U.S . Federal Locations: New York City, Asia, Pacific, U.S ., Europe, Mulberry

Stock price information reflected on a window at the Euronext NV stock exchange in Paris, France, on Monday, March 13, 2023. LONDON — European stocks closed lower on Friday, as investors digested fresh U.S. jobs data and the European Central Bank's latest interest rate commentary. All major bourses and almost all sectors traded in the red, with utilities down 1% as health-care stocks added 0.5%. U.S. stocks were mixed following the release, with the S&P 500 hitting a fresh record high as the Nasdaq Composite dipped. Closely behind was Geert Wilders' anti-immigration party, which looks set to have won seven seats.

Persons: Dow Jones, Geert Wilders Organizations: LONDON, Central, Nasdaq, Labour Locations: Paris, France, U.S, Europe, Netherlands

☆ David Einhorn thinks inflation is reaccelerating and has made gold a very large position
▼ + stars: | 2024-04-03 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

"I think inflation is reaccelerating. I think there's a lot of indication of that," the famed investor said during the Sohn Investment Conference in New York. As a defense play against a potential market downturn, Einhorn also said he is loading up on his gold position . We own physical bars as well, so gold is a very large position for us," Einhorn said. Value investing opportunities Despite his concerns, Einhorn said opportunities are emerging in value stocks, which he thinks are misunderstood nowadays.

Persons: David Einhorn, Einhorn, CNBC's Scott Wapner, there's Organizations: Greenlight, Federal Reserve, Sohn Investment, Greenlight Capital, Trust, Solvay Locations: New York, Belgium

☆ Currency market subdued ahead of fresh U.S. economic data
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: +3 min

The currency market was sedate on Thursday, with the U.S. dollar consolidating against major peers as market players awaited more data out of the world's largest economy for clues on the direction of Federal Reserve policy. With the Fed widely expected to hold rates steady at its meeting next week, attention will be on the bank's updated economic projections. The dollar index , which measures the greenback against a basket of six currencies, was mostly flat at 102.77. Sources told Reuters that Japan's central bank will debate ending negative rates next week if big firms' wage talks yield strong results. Elsewhere, the euro was holding steady against the dollar at $1.0949, ahead of remarks by several European Central Bank officials on Thursday.

Persons: Kyle Rodda, Jerome Powell, Sterling, bitcoin Organizations: U.S, Federal Reserve, Fed, U.S ., PPI, Bank, Reuters, European Central Bank Locations: Buenos Aires, Argentina, U.S

☆ Trading CPI: How JPMorgan thinks stocks will react to Tuesday’s big inflation report
▼ + stars: | 2024-03-11 | by ( Fred Imbert | ) www.cnbc.com time to read: +2 min

Against this backdrop, JPMorgan traders how they expect the S & P 500 to fare, depending on how much core CPI increased from the prior month. 30% chance — CPI rises 0.3%-0.4%: Such a gain would raise concern that inflation may be reaccelerating. JPMorgan sees the S & P 500 falling 0.5%-1% under this outcome. 7.5% chance — CPI jumps more than 0.4%: JPMorgan traders see a 1.75%-2.25% sell-off under this scenario, noting such a report would manifest fears of a "second peak in inflation." 2.5% chance — CPI rises less than 0.1%: Under this outcome, an "everything rally" in stocks would take place, sending the S & P 500 higher by 1.5%-2%.

Persons: Dow Jones, Jerome Powell, it's Organizations: JPMorgan, Core CPI

☆ European markets head for higher open ahead of a slew of earnings
▼ + stars: | 2024-02-08 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a positive open on Thursday as investors focus on a slew of earnings set to come from Unilever, Societe Generale, Maersk, Siemens and Adyen. Regional markets retreated Wednesday amid ongoing uncertainty over the rate cut outlook. Japan's Nikkei led gains in Asia-Pacific markets on Thursday, hitting fresh 34-year highs, after a report suggested the country's central bank would not aggressively tighten its monetary policy. U.S. stock futures were little changed in overnight trading Wednesday after the S&P 500 finished the regular session on the brink of the 5,000 milestone. Investors will monitor fresh U.S. jobless claims data on Thursday to gauge the health of the labor market.

Organizations: Unilever, Societe Generale, Maersk, Siemens, Adyen, Japan's Nikkei Locations: Asia, Pacific

The California-based AI chip giant had been expected to launch the new products as early as Nov. 16, chip industry newsletter SemiAnalysis reported this month. However, the H20 launch has now been pushed back until the first quarter of next year, the sources said, with one saying they were advised it could take place in February or March. In addition to the H20, Nvidia has been planning two other chips to comply with new U.S. export rules - the L20 and L2. The sources said the L20 was not facing delays and would launch according to its original schedule. Chinese internet giant Baidu (9888.HK) placed a sizeable order for Huawei AI chips this year, Reuters reported this month citing sources.

Persons: Dado Ruvic, Baidu, Fanny Potkin, Yelin, Brenda Goh, Jamie Freed Organizations: NVIDIA, REUTERS, Rights, Nvidia, Huawei, U.S, Baidu, HK, Reuters, Thomson Locations: Rights SINGAPORE, BEIJING, China, The California, U.S, Singapore, Yelin Mo, Beijing, Shanghai

Ministers from OPEC+, which groups the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, meet on Sunday in Vienna. Robust global oil prices this year and Moscow's growing use of a shadow tanker fleet have meant that much Russian oil has traded mostly above the Western oil cap price. Moscow-based independent oil analyst Alexei Kokin said the oil prices declined from "very comfortable" levels to "just comfortable" levels. Russia has budgeted the price of Urals, its flagship oil grade, at 4,788 roubles ($53.36) per barrel this year. However, the share of energy sales in the federal budget proceeds - which used to exceed 50% of total budget revenue - has drastically declined.

Persons: Alexander Manzyuk, Vladimir Putin, Alexei Kokin, Ronald Smith, Vladimir Soldatkin, Guy Faulconbridge, Jason Neely Organizations: REUTERS, Energy, OPEC, Organization of, Petroleum, BCS, Investments, Brent, Thomson Locations: Republic of Tatarstan, Russia, MOSCOW, Vienna, OPEC, U.S, China, Saudi Arabia, United States, Moscow

☆ Wall Street turns to Nvidia earnings in the week ahead as stocks try to keep their November momentum
▼ + stars: | 2023-11-17 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Nvidia earnings will be in focus in the Thanksgiving-shortened week ahead, as investors consider the sustainability of the November rally heading into year-end. NVDA YTD mountain Nvidia YTD The chip giant's results will come amid a broad rally for equities this month. The S & P 500 has climbed more than 7%, and the tech-heavy Nasdaq Composite has advanced more than 9%. That stands in marked contrast to the S & P 500, which trades at a multiple of 22. Hopes for a dovish Fed Wall Street is also heading into next week after absorbing some positive news.

Persons: Timothy Arcuri, China —, Piper Sandler, Harsh Kumar, Quincy Krosby, Bill Baruch, CNBC's, That's, Bonds, Giuseppe Sette, Dow, Jeff Hirsch, —, Michael Bloom Organizations: Nvidia, UBS, Dow Jones Industrial, Nasdaq, Microsoft, LPL, Dow, Blue, Investors, Chicago Fed, HP Inc, Autodesk, Devices, Lowe's, Deere, P, PMI, P Global PMI Locations: FactSet, China, Treasurys, Lombard, Michigan

☆ Russia's Urals oil from Baltic ports falls below $60 cap amid sanctions
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Nov 17 (Reuters) - Russia's Urals oil prices on Friday fell below the Western price cap level of $60 per barrel amid a rise in freight rates fuelled by fresh U.S. sanctions on shipowners and weaker global oil prices, two traders said and Reuters calculations showed. Russia's main export grade had been trading above $60 since mid-July amid output cuts by OPEC+ producers including Saudi Arabia and Russia. On Friday freight rates for Urals oil shipments from Russia's Baltic ports of Primorsk and Ust-Luga to India rose to $9.2-9.5 million per tanker per voyage from $8 million last week. Urals oil prices on a delivered ex-ship basis in Indian ports were stable at a discount of around $5 per barrel to dated Brent, traders said. High transportations costs weighed on FOB prices for Russian Urals oil, traders said, adding that amid weakness in Brent the grade's price was below $60 as of Friday.

Persons: Brent, Jason Neely Organizations: U.S . Treasury Department, United, Thomson Locations: MOSCOW, U.S, United Arab Emirates, Australia, Ukraine, Saudi Arabia, Russia, Primorsk, Ust, Luga, India, Brent

☆ China’s graphite curbs send green warning shot
▼ + stars: | 2023-10-20 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

Global demand for graphite, seen at 770,000 tonnes this year, is expected to treble by 2033, according to estimates by Fastmarkets graphite analyst Georgi Georgiev. China currently accounts for 64% of the global production of natural graphite and more than half of the artificial equivalent. More importantly, the People’s Republic refines more than 90% of the graphite into high-purity material used in EV batteries. This echoes the approach China used earlier this year to restrict exports of gallium and germanium, two metals used in chips and fibre optic cables, triggering a fall in international shipments. Mining graphite in Europe, which wants to lead in EV adoption, is simply more expensive, says Aiden Lavelle, CEO of miner European Green Metals.

Persons: Georgi Georgiev, Aiden Lavelle, Carmakers, Una Galani, Streisand Neto Organizations: Reuters, People’s, EV, Shanghai Putailai, Energy Technology, Metals, Volkswagen, Thomson Locations: HONG KONG, China, Republic, Shanghai, Finland, Sweden, Beijing, Western, Europe, U.S

☆ With new U.S. export restrictions, can Nvidia thrive in the long term without China?
▼ + stars: | 2023-10-17 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

The U.S. government plans to restrict the sale of advanced AI chips to China in the coming weeks, the Commerce Department announced Tuesday. KeyBanc Capital Markets said Tuesday that the new restrictions are a negative for Nvidia, arguing "it will ultimately be difficult to backfill China demand." The A800 and H800 are modified versions of Nvidia's cutting-edge AI chips used in data centers, known as the A100 and the more recent H100. To comply with the new rules, Nvidia created the A800 and H800 chips, which had slower data-transfer speeds and therefore didn't violate the export controls. The latest export controls, which U.S. officials said will go into effect in 30 days, again threaten those sales.

Persons: Biden, chipmaker –, Jeff Marks, Marks, — CNBC's Kristina Partsinevelos, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Nvidia, Commerce Department, KeyBanc, Markets, Microsoft, Oracle, U.S, supercomputing, Intel, Devices, CNBC, NVIDIA Locations: China, U.S, Santa Clara , California

☆ European stocks lower ahead of U.S. earnings releases
▼ + stars: | 2023-10-13 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

The regional Stoxx 600 was down 0.7% as most sectors fell into the red. Only oil and gas stocks were higher, by 1.3%, as crude prices rose sharply. European stock markets were lower Friday afternoon as sentiment falters on fresh U.S. inflation data. However, both U.S. producer price and consumer price index readings have since come in slightly higher than expected. Inflation figures for France and Spain out FridayAsia-Pacific stocks were lower as the consumer price index in China — where the concern is deflation — came in flat, below estimates for 0.2% growth.

Persons: Raphael Bostic Organizations: Global, U.S . Federal Reserve, Bank of Atlanta, Friday Locations: Israel, U.S, France, Spain, Friday Asia, Pacific, China —

☆ Next EU chief will need cash more than trade wars
▼ + stars: | 2023-10-10 | by ( Rebecca Christie | ) www.reuters.com time to read: +8 min

What she sidestepped was how to find more cash and convince member states to pay up. Von der Leyen, or her successor, will have to figure out how to pay for enlargement. Von der Leyen tapped into trade frustrations with her pledge to investigate and possibly punish Chinese subsidies for car and battery makers. During her first term, von der Leyen succeeded in connecting the EU with bond investors via the 800 billion euro NextGenerationEU borrowing programme. A second term will require even more finesse to convince EU member states to raise money not just from markets, but from themselves.

Persons: Ursula von der, European Union won’t, der, von der Leyen’s, Greens –, der Leyen, Emmanuel Macron, Thierry Breton, Norway’s Jens Stoltenberg, Von der, Carlo Bastasin, Von der Leyen, von der Leyen, sceptics, Ursula von der Leyen, Charles Michel’s, Jens Stoltenberg’s, Francesco Guerrera, Streisand Neto, Thomas Shum Organizations: Reuters, European Union, Bank, EU, European Commission, Socialists, Greens, NATO, Reuters Graphics Reuters, Brookings, handouts, Organisation for Economic Co, Transport, Environment, Thomson Locations: BRUSSELS, Ukraine, Moldova, Western, Brussels, Germany, Bosnia, Herzegovina, Montenegro, Serbia, Albania, North Macedonia, Kosovo, Turkey, Georgia, Spain, Poland, United States, China, Ireland, Netherlands, EU, EU’s, Hungary

The deal removes a point of friction between the United States, which brands Tehran a sponsor of terrorism, and Iran, which calls Washington the "Great Satan". 'HUMANITARIAN ACTION'[1/9]Family members embrace freed American Emad Shargi after he and four fellow detainees were released in a prisoner swap deal between U.S and Iran, and arrived at Davison Army Airfield at Fort Belvoir, Virginia. Iranian President Ebrahim Raisi, who was in New York for the annual U.N. General Assembly, called the swap a humanitarian action. Relations between the United States and Iran have been especially bitter since 2018 when then-President Donald Trump pulled out of a deal aimed at curbing Tehran's nuclear ambitions and toughened U.S. sanctions. Washington suspects Iran's nuclear program may be aimed at developing nuclear arms, a charge Iran denies.

Persons: Babak Namazi, Siamak, Siamak Namazi, Morad Tahbaz, American Emad, Jonathan Ernst, Joe Biden, Ebrahim Raisi, Biden, Michael McCaul, Donald Trump, Iran's, Antony Blinken, Henry Rome of, Andrew Mills, Humeyra Pamuk, Parisa, Edmund Blair, Arshad Mohammed, Gareth Jones, Jon Boyle, Alexandra Hudson Organizations: Doha DOHA, NEW, Stripes, Qatari, Davison Army, REUTERS, Rights, General Assembly, Democrat, House Foreign, U.S, Washington Institute for Near, Alexandra Hudson Our, Thomson Locations: Qatar, Iran, Doha, United States, U.S, Fort Belvoir , Virginia, South Korea, Switzerland, Tehran, Washington, Gulf and U.S, Emad Sharqi, British, American, New York

REUTERS/Toru Hanai Acquire Licensing RightsTOKYO, Sept 16 (Reuters) - Japan's Mitsui (8031.T) said on Saturday it is committed to complying with restrictions in the wake of fresh U.S. sanctions related to Russia's Arctic LNG 2 liquefied natural gas project in which it holds a stake. However, a Japan government source said they could complicate how Mitsui and another Japanese shareholder JOGMEC provide support for the project and could also delay production from Arctic LNG 2. The Arctic LNG 2 project in Russia's Arctic is operated by Russian company Novatek (NVTK.MM) while Mitsui and fellow Japanese firm JOGMEC hold a combined 10% stake. Novatek plans to launch first production train at the Arctic LNG 2 project towards the end of the year. The Arctic LNG 2 project is designed to run three production lines with an annual production capacity of 19.8 million tons.

Persons: Toru Hanai, Mitsui, JOGMEC, Novatek, Katya Golubkova, Jason Neely Organizations: Mitsui & Co, REUTERS, Rights, Japan's Mitsui, Reuters, Mitsui, Thomson Locations: Tokyo, Japan, UAE, Russian, Yamal, Ukraine, Moscow, Russia

☆ US to send controversial depleted-uranium munitions to Ukraine
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

Cezary Aszkielowicz/ Agencja Wyborcza.pl via REUTERS Acquire Licensing RightsSept 6 (Reuters) - The Pentagon on Wednesday announced a new security assistance package worth up to $175 million for Ukraine, including depleted uranium ammunition for Abrams tanks, the first time the U.S. is sending the controversial armor-piercing munitions to Kyiv. Reuters was first to report last week that the rounds, which could help destroy Russian tanks, would form part of a new military aid package for Ukraine, which Russian forces invaded in February 2022. Although Britain sent depleted uranium munitions to Ukraine earlier this year, this would be the first U.S. shipment of the ammunition and will likely stir controversy. Washington previously announced it would send cluster munitions to Ukraine, despite concerns over the dangers such weapons pose to civilians. The use of depleted uranium munitions has been fiercely debated, with opponents like the International Coalition to Ban Uranium Weapons saying there are dangerous health risks from ingesting or inhaling depleted uranium dust, including cancers and birth defects.

Persons: Cezary, Wyborcza.pl, Antony Blinken's, Blinken, Washington, Costas Pitas, Mike Stone, Kanishka Singh, Ronald Popeski, Rami Ayyub, Eric Beech, Grant McCool Organizations: Abrams, REUTERS Acquire, Pentagon, Reuters, High Mobility Artillery Rocket Systems, International Coalition, Thomson Locations: U.S, Szczecin, Poland, Ukraine, Kyiv, Russian, Ukrainian, Washington, United States

Debates over U.S. corn and soybean yield potential have persisted all summer following one of the driest Junes on record. Soy yield’s range of 1.5 bpa is a six-year low, well below the 2.9-bpa average, raising the risk of surprise. The trade nailed corn yield last August, coming within 0.3% of USDA’s figure, analysts’ best performance since 2001. I posted a Twitter poll midday on Thursday asking which yield surprise could be most likely on Friday: corn high, corn low, soybeans high or soybeans low. After about two hours and 555 votes, corn yield surprising high was the clear leader with 40% of the vote.

Persons: Karl Plume, Karen Braun, Matthew Lewis Organizations: REUTERS, U.S . Department, Reuters, Thomson Locations: Spiritwood , North Dakota, U.S, Karl Plume NAPERVILLE , Illinois, Chicago

☆ China slams Biden's order limiting U.S. overseas tech investment
▼ + stars: | 2023-08-10 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

Dong Wenjie | Moment | Getty ImagesChina criticized President Joe Biden's long-awaited executive order regulating fresh U.S. investment in technology — but stopped short of issuing immediate counter measures. "China expresses its grave concern and reserves the right to implement measures," the Chinese Commerce Ministry said in the statement, according to a CNBC translation. Biden's order comes amid an escalating race for global technology supremacy. watch now"This seriously deviates from the market economy and fair competition principles that the U.S. has always advocated," the Chinese Ministry of Commerce added. The wording on Biden's executive order appears similar to a toned-down version of the initial Outbound Investment Transparency Act the Senate recently introduced.

Persons: Dong Wenjie, Joe Biden's, Prasad, Janet Yellen Organizations: Images China, Chinese Commerce Ministry, Biden, CNBC, Chinese Ministry of Commerce, Cornell University, Treasury, Senate Locations: Shanghai, Asia, China, China , Hong Kong, Macao, U.S, Japan, Netherlands, Beijing

Managed money net position in CBOT corn futures and optionsCBOT corn futures had risen almost 6% during the week, though CBOT wheat surged over 13%, including a limit-up move on July 24. Managed money net position in Chicago wheat futures and optionsGrain futures did not sustain their strength last week, and funds may have already abandoned bullish corn bets as of Friday’s close. Corn dropped over 6% in the last three sessions and commodity funds commodity funds were pegged as net sellers of 33,000 futures contracts. CBOT wheat futures still maintain some of their recent Ukraine war premium, having shed 7.4% between Wednesday and Friday. Funds were seen as sellers of 24,000 wheat futures during this period.

Persons: Corn, Karen Braun, Lisa Shumaker Organizations: Funds, European Union, Sunday, U.S . Department of Agriculture, Reuters, Thomson Locations: NAPERVILLE , Illinois, Chicago, Ukrainian, Russian, Ukraine, European, U.S, China, Mexico . U.S, Brazil

☆ Israel's Netanyahu concerned its defense systems may reach Iran if sent to Ukraine
▼ + stars: | 2023-06-29 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +5 min

Israeli Prime Minister Benjamin Netanyahu signaled concerns in an interview published Thursday that Israeli-manufactured defense systems, including the U.S.-funded Iron Dome, could reach Iran if they were transferred to Ukraine. "We're concerned also with the possibility that systems that we would give to Ukraine would fall into Iranian hands and could be reverse engineered, and we would find ourselves facing Israeli systems used against Israel," Netanyahu told the newspaper. "That's not a theoretical … threat, because Western systems, anti-tank systems for example, did exactly that journey, that we now find them on our borders with [Iran-backed group] Hezbollah." Ukraine has repeatedly emphasized its urgent need for air defense systems and ammunition to weather the aerial onslaught of the ongoing Russian offensive. "The Russians are murdering our citizens - and Israel still refuses to sell defense equipment to Ukraine!"

Persons: Benjamin Netanyahu, Netanyahu, We're, Chris Van Hollen, Lindsey Graham, Israel, –, doesn't Organizations: Wall Street, U.S, Geran, Kyiv, Atlantic Council, Street, NBC, European Union, U.S . State Department, CNBC Locations: U.S, Iran, Ukraine, Moscow, Tehran, Russia, Israel, Kyiv, United States, Ukrainian, Kramatorsk, Syria, Russian, Saudi Arabia, China, Washington

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