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Thursday on Wall Street, the S&P 500 added 0.4% to 4,894.16 and set a record for a fifth straight day. IBM helped lead the market with a gain of 9.5% after it reported a better profit for the latest quarter than analysts expected. The electric-vehicle maker reported earnings and revenue that fell short of forecasts and warned of lower sales growth this year. Such a resilient economy should drive profits for companies, which are one of the main inputs that set stock prices. On the losing end of Wall Street, Humana tumbled 11.7% after the insurer reported worse results for the end of 2023 than expected.

Persons: ” Robert Carnell, Seng, Tesla, ”, Jamie Cox Organizations: TOKYO, Nikkei, Bank of Japan, ING, Dow Jones, Nasdaq, IBM, U.S ., Federal Reserve, Harris Financial, Treasury, . American Airlines, Humana, New York Mercantile Exchange, Brent Locations: U.S, Asia, Pacific, Shanghai, Australia, Wall

TOKYO (AP) — Asian shares were mostly higher on Thursday, with Chinese stocks extending gains after Beijing announced a raft of policies to support sagging markets. Late Wednesday, the Chinese central bank announced a set of rules to govern lending to property developers. Earlier, it said it would cut bank reserve requirements to put about 1 trillion yuan ($141 billion) into the economy. The Chinese economy has slowed, with growth forecast below 5% this year, its lowest level since 1990 excluding the years of the COVID-19 pandemic. The yield on the 10-year Treasury rose to 4.17% from 4.14% late Tuesday.

Persons: Sydney's, Brent Organizations: TOKYO, Beijing, Shanghai, China Evergrande Holdings, Nikkei, Bank of Japan, Nasdaq, Dow Jones, Federal Reserve, Treasury, Fed, Global, U.S Locations: Hong Kong, Tokyo, Seoul . U.S, Shanghai, U.S

☆ Dollar treads water ahead of U.S. GDP; ECB meeting in spotlight
▼ + stars: | 2024-01-25 | by ( ) www.cnbc.com time to read: +4 min

Traders have been consolidating positions ahead of the Federal Reserve's policy meeting next week. The report is, however, likely to show that the U.S. avoided a recession in 2023 and is expected to show moderating inflation in the last quarter, stoking expectations of rate cuts sometime in the first half of 2024. Other U.S. data this week includes the Fed's favourite gauge of inflation - the personal consumption expenditure (PCE) data - on Friday. The move from the central bank comes after a Bloomberg report earlier this week of a rescue package worth $278 billion to help stabilise the battered stock markets. The Australian dollar and the New Zealand dollar struggled to sustain a China-inspired rally earlier this week.

Persons: Kieran Williams, Jerome Powell, Kazuo Ueda Organizations: Central Bank, Traders, U.S, Asia FX, InTouch, ECB, Wednesday, Bloomberg, Australian, New Zealand, Aussie, Bank of, Bank of Japan Locations: Asia, U.S, China

☆ Dollar hovers near 6-week high on Fed view; yen edges up after BOJ
▼ + stars: | 2024-01-24 | by ( ) www.cnbc.com time to read: +4 min

The Japanese yen , though, ticked higher as expectations rose for a stimulus exit as soon as March, following hawkish comments from the Bank of Japan on Tuesday. "We have seen ECB (European Central Bank) officials push back on rate cut expectations as well, in line with the Federal Reserve." The dollar declined 0.17% to 148.085 yen, after swinging from as low as 146.99 and as high as 148.70 on Tuesday. The Bank of Canada meets on policy on Wednesday, and is expected to leave its key overnight rate unchanged at a 22-year high of 5%. Traders have unwound bullish positions built up in anticipation of U.S. approval of the country's first spot bitcoin exchange traded fund (ETF).

Persons: Mary Daly, Christopher Waller, James Kniveton, Christine Lagarde's, Sterling, Kazuo Ueda, China's, cryptocurrency, Bitcoin Organizations: Federal Reserve, Bank of Japan, U.S, San Francisco Fed, ECB, European Central Bank, Bank of England, Bank of Canada, Bloomberg, Traders Locations: U.S

BANGKOK (AP) — Asian shares were mixed on Wednesday after Japan reported its exports jumped nearly 10% in December, though shares in Tokyo declined. Hong Kong’s Hang Seng surged 2% to 15,569.39, helped by gains in technology companies like e-commerce giant Alibaba, which surged 3.8%. The index rose 0.3% to 4,864.60. United Airlines flew 5.3% higher after it also reported stronger profit for the last three months of 2023 than analysts expected. Among Tuesday’s headliners was Verizon Communications, which rose 6.7% after beating analysts’ profit estimates.

Persons: Wang Jiangjun, Hang Seng, ” Gabriel Ng, India's Sensex, Gamble, D.R, Horton, Brent Organizations: Japan, China Securities Regulatory Commission, Capital Economics, Nikkei, Bank of, Nasdaq, Dow Jones, Procter, United Airlines, Boeing, Max, Tesla, Intel, Verizon Communications, General Electric, Analysts, Federal Reserve, Treasury, New York Mercantile Exchange, U.S Locations: BANGKOK, Tokyo, China, Shanghai, Bank of Japan, South Korea, Australia, Bangkok

☆ Asia markets largely set to rise ahead of trade and factory activity data from Japan
▼ + stars: | 2024-01-24 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

A flag of Japan flies near cargo containers at Tokyo's Odaiba Waterfront on August 6, 2020. Asia-Pacific markets are largely set to rise as investors monitor economic data out of Japan as well as factory activity data from Australia. Japan will release its December trade data and see private surveys from the au Jibun bank on its January purchasing managers index, a day after the Bank of Japan left its monetary policy unchanged. Australia also saw flash PMI surveys from Juno Bank, which showed an expansion in manufacturing activity in January after 11 straight months of contraction. Business activity in the country also saw a softer contraction in January compared to December.

Organizations: Bank of Japan, Juno Bank Locations: Japan, Asia, Pacific, Australia

☆ Bank of Japan expectedly retains its ultra-loose policy, cuts core inflation estimate
▼ + stars: | 2024-01-23 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Bank of Japan governor Kazuo Ueda gestures as he speaks during a press conference following a monetary policy meeting at the Bank of Japan's headquarters in Tokyo on July 28, 2023. The Bank of Japan on July 28 eased its grip on its ultra-loose monetary policy in a small step towards normalisation as inflation accelerates and the yen comes under pressure against other major currencies. (Photo by JIJI Press / AFP) / Japan OUT (Photo by STR/JIJI Press/AFP via Getty Images)The Bank of Japan expectedly retained its ultra-loose monetary policy at its first meeting this year, while cutting its core inflation forecast for the next fiscal year. All the economists surveyed by Reuters expected the Japanese central bank to maintain its negative rate policy this month — making the BOJ the world's only central bank with negative rates. The central bank also marginally increased the core CPI inflation estimate for fiscal 2025 to 1.8% from 1.7% forecast earlier.

Persons: Kazuo Ueda, Bank of Japan expectedly, BOJ Organizations: Japan, Bank of Japan's, The Bank of Japan, JIJI Press, Getty, Bank of Japan, Reuters Locations: Tokyo, AFP, Japan

☆ European markets head for flat open, losing positivity seen at the start of the week
▼ + stars: | 2024-01-23 | by ( Holly Ellyatt | ) www.cnbc.com time to read: 1 min

European markets are heading for a flat open Tuesday, losing an air of positivity seen in the previous trading session. In Asia-Pacific markets, Hong Kong stocks rebounded Tuesday after two straight days of declines, while Japan's Nikkei 225 index rose as the Bank of Japan kept its monetary policy unchanged in its first monetary policy meeting of the year. U.S. stock futures were little changed Tuesday morning after the Dow Jones Industrial Average surpassed 38,000 for the first time ever.

Organizations: Nikkei, Bank of Japan, Dow Jones Industrial Locations: Asia, Pacific, Hong Kong

☆ CNBC Daily Open: Markets' upbeat sentiment
▼ + stars: | 2024-01-23 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Traders work on the floor of the New York Stock Exchange (NYSE) on October 30, 2023 in New York City. [PRO] Wall Street's China picksWall Street banks Morgan Stanley and JPMorgan have highlighted key China internet picks for this year. Both firms think an alpha-driven investment strategy will provide good risk-reward for the sector and picked some themes to watch.

Persons: bitcoin, Morgan Stanley Organizations: CNBC, New York Stock Exchange, Dow Jones, Nasdaq, Bloomberg, BOJ, Bank of Japan, Metrics, JPMorgan, Alpha Locations: New York City, Wall, Asia, Hong, China, Covid

It said China plans to tap offshore funds held by Chinese state-owned enterprises and also local funds. Elsewhere in Asia, South Korea's Kospi rose 0.6% to 2,478.61 and Australia's S&P/ASX 200 added 0.5% to 7,514.90. ADM also said it expects to report profit for the full year of 2023 that’s below what analysts were forecasting. That in turn has relaxed the pressure considerably on the stock market and helped it to rip higher. In other trading, U.S. benchmark crude oil rose 9 cents to $74.85 per barrel in electronic trading on the New York Mercantile Exchange.

Persons: Seng, Tan Boon Heng, “, ” Tan, Sunoco, Archer Daniels Midland, Tesla Organizations: Bloomberg, Mizuho Bank, Nikkei, Bank of Japan, U.S ., Dow Jones, Nasdaq, Technologies, NuStar Energy, ADM, American Airlines, Intel, Procter, Gamble, Federal Reserve, Treasury, New York Mercantile Exchange, Brent Locations: BANGKOK, Asia, Hong Kong, Shanghai, Beijing, China, South, U.S

☆ April a reasonable time for the Bank of Japan to bring rates back to zero, strategist says
▼ + stars: | 2024-01-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApril a reasonable time for the Bank of Japan to bring rates back to zero, strategist saysAlim Remtulla, chief FX strategist at EFG International, discusses the Bank of Japan's latest monetary policy decision, the prospect of a first interest rate hike for 17 years, and what it means for the Japanese yen.

Persons: Alim Remtulla Organizations: Bank of Japan, EFG International, Bank of

☆ Bullish on Yen on a 12-month view given Japan's economic trend: Strategist
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBullish on Yen on a 12-month view given Japan's economic trend: StrategistKathy Lien of BK Asset Management expects 'significant' unwinds in Yen carry trade in 2024 as the Bank of Japan is expected to tighten monetary policy while other major central banks are likely to cut rates.

Persons: Kathy Lien, Yen Organizations: BK Asset Management, Bank of Locations: Yen, Bank of Japan

☆ Dollar struggles to retain gains even as March rate cut odds recede
▼ + stars: | 2024-01-22 | by ( ) www.cnbc.com time to read: +3 min

Japan's yen was the notable mover in otherwise quiet trading, as it tiptoed away from Friday's one-month low of 148.80. San Francisco Federal Reserve Bank President Mary Daly on Friday said she believes the U.S. economy and monetary policy are in a "good place" and it is premature to think rate cuts are imminent. Short-term interest rate futures market show traders are betting interest rate cuts will start in May, with the probability of a March cut dropping below 50%, down from near 80% in the first weeks of January, according to CME Group data. "The USD holds a fair relationship with the evolving implied pricing for a March Fed cut, where rate cut probability falls the USD rallies, and vice versa," he wrote. Much of the gains have come from investor bets on Fed rate cuts.

Persons: dovish, Mary Daly, Chris Weston, Pepperstone Organizations: U.S, of Japan's, Federal Reserve, San Francisco Federal Reserve Bank, Group, NatWest Markets, European Central Bank, ECB Locations: Japan, Europe, U.S

☆ UBS sees a 10% spike for gold this year as rate cut speculation swirls
▼ + stars: | 2024-01-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Gold prices have increased since the Ukraine War but have soared to record highs since the start of the Hamas-Israel war. Other factors are the weakening US dollar and expected rate cuts from the Federal Reserve. Gold prices could close the year as much as 10% above current levels on the back of potential interest rate cuts, UBS strategists said, despite declines at the start of 2024. Markets are increasingly uncertain that the Fed will begin interest rate cuts in March. Analysts tied the rise to interest rate expectations and the global volatility stemming from the Israel-Hamas conflict.

Persons: Gold Organizations: Federal Reserve, UBS, Federal, Scotiabank, Fed, U.S, Bank of Japan, European Central Bank, World Gold, Analysts Locations: Birmingham, England, Ukraine, Israel, London

HONG KONG (AP) — Shares rose in most Asian markets Monday after Wall Street returned to record heights Friday, while Hong Kong’s benchmark dropped more than 2%, hovering near a 15-month low. Tokyo’s Nikkei 225 index gained 1.2% to 36,376.50. Wall Street's run-up was driven in part by hopes for rate cuts as U.S. inflation remained tame. Treasury yields have already relaxed significantly on expectations for rate cuts, and that helped the stock market’s rally accelerate sharply in November. The Fed itself has hinted that rate cuts are coming, though some officials have indicated they may begin later than the market is hoping for.

Persons: Australia’s, that’s, Brent Organizations: Wall, Hong, Nikkei, Bank of Japan, People’s Bank of China, Dow Jones, Nasdaq, Taiwan Semiconductor Manufacturing Co, Broadcom, Texas Instruments, U.S Locations: HONG KONG, U.S, Hong Kong, Shanghai, South Korea, Bangkok, Taiwan

☆ Markets tried to fight the Fed on rate cuts. It didn’t work
▼ + stars: | 2024-01-21 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Now there’s roughly a 50/50 chance that the Fed could either cut rates or hold them steady in March, according to futures. A few developments this past week tempered investors’ optimism, and now the possibility of a rate cut in March could be completely thrown out the window, according to economists. He echoed other Fed officials who’ve recently said that beginning to cut rates in March is just not realistic. In addition to officials’ comments, recent economic data also doesn’t bode well for a March rate cut. Markets are expecting twice as many rate cuts this year than what Fed officials themselves estimated in their latest economic projections released in December.

Persons: ’, Christopher Waller, ”, who’ve, Loretta Mester, “, Mary Daly, it’s, Daly, bode, Waller, ” Bill Adams, ” Daniel Altman, Jerome Powell’s, Donald Trump, Christine Lagarde, couldn’t, Jamie Dimon, Trump, Joe Biden, Bank of America’s Brian Moynihan, OpenAI’s Sam Altman, Johnson, Lockheed Martin, Levi Strauss, Booz Allen Hamilton, CNN’s Elisabeth Buchwald Organizations: CNN Business, Bell, DC CNN — Federal Reserve, Fed, Brookings Institution, ” Cleveland Fed, Bloomberg, ” San Francisco Fed, Fox Business, Commerce Department, Labor Department, Employers, Comerica Bank, CNN, Biden, Trump, Economic, European Central Bank, ”, JPMorgan, Bank of America’s, United Airlines, The Bank of Japan, Netflix, General Electric, Procter, Gamble, Johnson, Verizon, Lockheed, Haliburton, Tesla, IBM, Bank of Canada, Global, American Airlines, Southwest Airlines, Alaska Airlines, Co, Visa, Intel, Mobile, Comcast, Capital, US Commerce Department, Chicago Fed, US Labor Department, American Express, Colgate, Palmolive, Booz, National Association of Realtors Locations: Washington, ” San, East, Iran, Davos, Switzerland, Iowa, Swiss, United States

☆ Morgan Stanley expects Japan's headline wage growth to be close to 4% in 2024
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMorgan Stanley expects Japan's headline wage growth to be close to 4% in 2024Takeshi Yamaguchi, chief Japan economist at Morgan Stanley, discusses the outlook for the Bank of Japan's monetary policy and the country's economic data.

Persons: Morgan Stanley, Takeshi Yamaguchi Organizations: Bank Locations: Japan

☆ Dollar headed for second weekly gain on tempered rates outlook
▼ + stars: | 2024-01-19 | by ( ) www.cnbc.com time to read: +3 min

Dollar bills and Japanese currency Yen lying on a table on August 03, 2016 in Berlin, Germany. The dollar headed for a second weekly gain in a row on Friday on signs of resilience in the U.S. economy and caution about rate cuts from central bankers. Weekly gains on the risk-sensitive Australian and New Zealand dollars of 1.7% and 2.1% are set to be the largest since November and June respectively. Rabobank revised its one-month forecast for dollar/yen to 148 from 144, expecting further unwinding of bets on the pace of U.S. rate cuts to support the dollar. An unexpected rise in British inflation also drove a sharp pullback in bets on Bank of England interest rate cuts, and leant support to sterling.

Persons: Jane Foley, Christopher Waller, Bitcoin Organizations: New, Bank of Japan, Rabobank, Federal, Bank of Locations: Berlin, Germany, U.S, New Zealand, Asia, Europe, Bank of England

HONG KONG (AP) — Asia markets mostly advanced Friday after Wall Street recouped most of the week's earlier losses and Japan reported slowing inflation, which may keep its ultra-low interest rates steady. Japan’s inflation slowed for a second straight month, increasing the chance that the Bank of Japan will keep its ultra-low interest rates unchanged at its meeting next week. Hong Kong stocks were on track for their third consecutive week of losses as investors remain worried about the gloomy economic prospects. The market was broadly steadier as Treasury yields in the bond market slowed their jump from earlier in the week. On the losing end of Wall Street were several financial companies that reported weaker results for the end of 2023 than analysts expected.

Persons: Australia’s, Taiwan’s Taiex, homebuilders, KeyCorp, Brent Organizations: —, Nikkei, Bank of Japan, Taiwan Semiconductor Manufacturing, Dow Jones Industrial, Nasdaq, Big Tech, Apple, Broadcom, Federal Reserve, Treasury, Discover Financial Services, U.S Locations: HONG KONG, — Asia, Japan, Hong Kong, Shanghai, South Korea, Bangkok, United States

☆ Asia markets rise as Japan December inflation hits its lowest since June 2022
▼ + stars: | 2024-01-19 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

The Bank of Japan (BOJ) headquarters is seen beyond the cherry blossoms in Tokyo on March 20, 2023. Asia-Pacific markets rose as investors assessed Japan's December inflation numbers — the last key data before the Bank of Japan's first monetary policy meeting of 2023. The world's third-largest economy saw headline inflation rate hit its lowest level since June 2022, cooling to 2.6% from 2.8% in November. Japan's core inflation rate — which strips out prices of fresh food — also fell to 2.3% from November's 2.5%, in line with expectations from economists polled by Reuters. The Bank of Japan kicks off its two-day monetary policy meeting on Jan. 22, and will announce its decision the next day.

Persons: — Organizations: Bank of Japan, Bank of, Reuters, The Bank of Japan Locations: Tokyo, Asia, Pacific

A Chinese flag flies outside a residential compound in Beijing on April 30, 2017. Greg Baker | Afp | Getty ImagesAsia-Pacific markets appear set to extend their declines Wednesday, ahead of a slew of economic data from China. Investors will also assess the Reuters Tankan manufacturing index for January, which is a leading indicator of the Bank of Japan's official quarterly Tankan survey that assesses business conditions in the country. In Australia, the S&P/ASX 200 extended its losing streak to a fourth day, falling 0.17% in early trade. Futures for Hong Kong's Hang Seng index stood at 15,793, pointing to a weaker open after the index led losses in Asia on Tuesday, closing at 15,865.92.

Persons: Greg Baker Organizations: Afp, Getty, Investors, Reuters, Bank of Japan's, Nikkei Locations: Beijing, Asia, Pacific, China, Australia, Chicago, Osaka

BANGKOK (AP) — Shares fell Tuesday in Asia, with Hong Kong’s benchmark down nearly 2%, as jitters over Chinese markets dimmed confidence across the region. Tokyo’s Nikkei 225 index fell, snapping a New Year’s winning streak that took it to its highest level in 34 years. The dollar weakened against the Japanese yen even as a former central bank official said that the Bank of Japan is preparing to end its longstanding negative interest rate policy. The dollar bought 146.12 yen, up from 145.75 late Monday and at its highest level in more than one month. Traders are largely betting on the Fed cutting its main interest rate six or more times through 2024.

Persons: —, Meituan, Kristalina Georgieva, Kospi, Germany's DAX, It's, Brent Organizations: Dow Jones, Nikkei, Bank of Japan, Federal Reserve, Tencent, China Garden Holding, Ocean, IMF, CNBC, CAC, Traders, Fed, New York Mercantile Exchange Locations: BANGKOK, Asia, U.S, Shanghai, China, Beijing, South, Australia, Paris

☆ Dollar advances as traders weigh rate cut expectations, eyes on data
▼ + stars: | 2024-01-16 | by ( ) www.cnbc.com time to read: +4 min

Traders are back projecting cuts of 160 bps this year, up from expectations of 140 bps last week. Chris Weston, head of research at Pepperstone, said the risk is that Waller could push back on market pricing for a March cut and show a lack of urgency to normalize policy. "That said, should he even remotely validate market pricing, then we should see U.S. 2-year bond yields fall further. Markets are pricing around 120 bps of rate cuts by the Bank of England in 2024, with the first one most likely in May. Elsewhere, the Australian dollar fell 0.43% to $0.6632, while the New Zealand dollar fell 0.39% to $0.6176.

Persons: Hamish Pepper, Christopher Waller, Waller, Chris Weston, Weston, Bank's Joachim Nagel Organizations: U.S, Federal, Bank of Japan, Fed, Traders, Asset Management, Treasury, Bank of England, New Zealand Locations: Tokyo, Japan, U.S

☆ Japan markets are hitting multi-decade highs — will Nikkei scale its all-time peak?
▼ + stars: | 2024-01-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

Employees work at the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Thursday, Jan. 4, 2024. Bloomberg | Bloomberg | Getty ImagesAfter a tumultuous start to the year, Japan's benchmark Nikkei 225 broke past the 35,000 mark for the first time since February 1990 and has been scaling new 33-year highs. The rally in Japan's equity market, which started on Jan. 5, has also seen the broad-based Topix hitting 33-year highs. Speaking to CNBC, Yeap Jun Rong, market strategist at IG Asia struck an optimistic tone, saying that "all stars seem to be aligned for Japan's stock market." In a note last week, the Bank of America called the Japan rally a "déjà vu," comparing it with the Nikkei's rise between April and June 2023.

Persons: Yeap Jun Rong, Yeap Organizations: Tokyo Stock Exchange, Japan Exchange Group Inc, Bloomberg, Getty, Nikkei, CNBC, IG Asia, Bank of Japan, TSX, Bank of America Locations: Tokyo, Japan

☆ Dollar wobbles; yuan on guard ahead of China data dump
▼ + stars: | 2024-01-15 | by ( ) www.cnbc.com time to read: +3 min

The dollar ebbed on Monday on renewed expectations of a rate cut by the Federal Reserve in March, while the Chinese yuan struggled near a one-month low ahead of a slew of economic data this week. The offshore yuan languished near a one-month low of 7.1925 per dollar hit on Friday, and was last at 7.1861 per dollar. "I think more PBOC (People's Bank of China) easing is coming this year," said Carol Kong, a currency strategist at Commonwealth Bank of Australia. "I don't think (Monday's move) will materially weigh on the (yuan) because a rate cut is more or less priced in. The Australian dollar , often used as a liquid proxy for the yuan, edged 0.07% higher to $0.6690.

Persons: China's, Sterling, Chris Weston, Carol Kong, Party's Lai Ching, te, Goldman Sachs Organizations: Federal Reserve, Traders, U.S, Treasury, CPI, PPI, Bank of, People's Bank of China, Commonwealth Bank of Australia, Australian, New Zealand, Democratic, Taiwan Locations: Asia, U.S, Bank of Japan, China, Taiwan

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