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The pan-European STOXX 600 index (.STOXX) deepened losses by the close to fall 2.3% to its lowest level since late March, while the EURO STOXX 50 index (.STOXX50E) plunged 2.9%. Germany's two-year bond yield , which is highly sensitive to interest-rate expectations, rose its highest since autumn 2008, also pressuring equities. Technology stocks (.SX8P) fell 3.0%, while the real estate sector (.SX86P), which are often treated as bond proxies, tumbled 4.2%. German industrial orders rose significantly more than expected in May, due to large scale orders of ships, spacecraft and military vehicles. Embracer (EMBRACb.ST), the top loser on the STOXX 600, fell 13.8% after the gaming group raised 2 billion crowns ($182 million) in a share issue directed to institutional investors.

Persons: Chris Beauchamp, Janet Yellen's, Matteo Allievi, Shubham Batra, Shreyashi Sanyal, Sherry Jacob, Phillips, Varun, David Evans Organizations: CAC, U.S, Technology, Treasury, Thomson Locations: U.S . Federal, U.S, China, British, Gdansk, Bengaluru

☆ Oil dips as China demand fears offset tighter supply outlook
▼ + stars: | 2023-07-06 | by ( Jeslyn Lerh | ) www.reuters.com time to read: +2 min

SINGAPORE, July 6 (Reuters) - Oil prices slipped in Asian trade on Thursday as fears of a sluggish demand recovery in the world's top crude importer China offset the prospect of tighter supply, with top exporters Saudi Arabia and Russia cutting output. Brent crude futures dipped 21 cents, or 0.3%, to $76.44 a barrel at 0650 GMT, after settling higher 0.5% the previous day. "Near-term, a move above the key $80.00 level may be needed to provide some conviction for the bulls," Yeap added. Weighing on the demand outlook, China's services activity expanded at the slowest pace in five months in June, a private-sector survey showed on Wednesday, as weakening demand weighed on post-pandemic recovery momentum. Analysts had expected a drop in crude inventories of about 1 million barrels in a Reuters poll.

Persons: Jun Rong, Yeap, Tatsufumi Okoshi, Okoshi, Prince Abdulaziz bin Salman, Yuka Obayashi, Sonali Paul Organizations: Brent, . West Texas, IG, Nomura Securities, Saudi, American Petroleum Institute, Thomson Locations: SINGAPORE, China, Saudi Arabia, Russia, Saudi, OPEC, Tokyo, Singapore

☆ UK FTSE 100 at three-month low as rate hike worries grip; Currys slumps
▼ + stars: | 2023-07-06 | by ( Shashwat Chauhan | ) www.reuters.com time to read: +2 min

The blue-chip FTSE 100 (.FTSE) fell 1.2%, hitting its lowest level since March 24. Currys (CURY.L) tumbled 13.3% to its lowest level in more than 20 years after the electricals retailer reported a 38% slump in full-year profit. The commodity-heavy UK benchmark has been underperforming its peers this year amid volatility in resource prices over an uncertain global outlook. Among individual stocks, United Utilities (UU.L) climbed 1.8% after Morgan Stanley raised the water utility firm's rating to "overweight" from "equal-weight." Reporting by Shashwat Chauhan in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

Persons: tanked, Chris Beauchamp, Beauchamp, Morgan Stanley, Shashwat Chauhan, Dhanya Ann Thoppil Organizations: United Utilities, P, FTSE, U.S, U.S . Federal, IG Group, HSBC, Standard Chartered, Prudential, CAB, Thomson Locations: China, U.S, U.S ., Bengaluru

☆ Gold flat as investors await U.S. data for rate cues
▼ + stars: | 2023-07-06 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and gold coins of different sizes lie in a safe on a table at the precious metal dealer Pro Aurum. Gold was flat on Thursday as investors awaited a raft of U.S. economic data that could influence the Federal Reserve's policy trajectory, after minutes of its June meeting reaffirmed expectations that interest rates could remain higher for longer. Spot gold held its ground at $1,917.46 per ounce by 0459 GMT, while U.S. gold futures fell 0.2% to $1,924.10. Therefore, a series of labor market data will be on watch, but much will still revolve around a continued moderation in wage pressures, he added. Rising U.S. interest rates increase the opportunity cost of holding non-yielding bullion.

Persons: Gold, Jun Rong, Wang Tao, Janet Yellen's Organizations: Aurum, IG, Traders, Investors, U.S . Labor, Labor, Survey, Treasury Locations: U.S, Janet Yellen's Beijing

☆ Dollar steady before Fed minutes; yen hovers near 145-mark
▼ + stars: | 2023-07-05 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

The Federal Open Market Committee is due to release the minutes from its most recent policy meeting later on Wednesday. Investors will scour the minutes for any indications of Fed thinking, but Friday's monthly employment report will almost certainly carry more weight, analysts said. The dollar hovered around 144.3 yen, below the 145 level that prompted intervention by Japanese authorities last autumn. "However more broadly, it will provide support ... on expectations of an imminent policy response from Chinese authorities." The yuan headed for its first down day in four sessions in the offshore market, slipping 0.3% to 7.255 per dollar .

Persons: Adam Cole, Shusuke Yamada, RBC's Cole, it's, Tony Sycamore, Kevin Buckland, Shri Navaratnam, Helen Popper, Mark Heinrich Our Organizations: U.S, Federal, Fed, RBC, Treasury, Bank of America, Ministry, Finance, People's Bank of China, IG, Thomson Locations: synch, Tokyo, Beijing, Sydney

☆ Dollar steady before Fed minutes; Aussie slips on China weakness
▼ + stars: | 2023-07-05 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

The dollar hovered around 144.62 yen, below the 145 level that spurred intervention by Japanese authorities last autumn. Australia's dollar declined 0.24% to $0.6676, putting it on course to snap a four-day winning streak. Prior to the Chinese services data, the Aussie had been slightly stronger following another stronger yuan fixing from the People's Bank of China, fueling bets for imminent policy support from Beijing. "This (services data) provides further confirmation that the Chinese economy is slipping towards a double-dip slowdown," Tony Sycamore, a markets analyst at IG in Sydney, wrote in a client note. The yuan headed for its first down day in four sessions in the offshore market, slipping 0.13% to 7.2425 per dollar .

Persons: Europe's, Shusuke Yamada, Tony Sycamore, it's, Kevin Buckland, Shri Navaratnam Organizations: U.S, Federal, Treasury, Bank of America, Ministry, Finance, People's Bank of China, IG, Thomson Locations: TOKYO, Tokyo, Beijing, Sydney

☆ Can Japan's Nikkei benchmark hit an all-time high of 40,000? One strategist thinks so
▼ + stars: | 2023-07-05 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

Akio Kon | Bloomberg | Getty ImagesJapan's Nikkei 225 can reach 40,000 points in the next 12 months as fundamentals are "pointing in the right direction," according to market strategist Jesper Koll. Should the prediction come true, this would mean that the Nikkei would have breached its all-time high of 38,195 achieved on Dec 29, 1989. Japan's central bank has maintained an ultra-loose monetary policy for more than 20 years. He said that while there is more upside in the Nikkei, "a lot of good news is already priced in." That's on the expectation that the BOJ will move to tighten monetary policy.

Persons: Akio Kon, Jesper Koll, CNBC's, Koll, Kazuo Ueda, Tony Sycamore Organizations: Tokyo Stock Exchange, Bloomberg, Getty, Nikkei, Monex Group, Bank of Japan, CNBC Locations: Tokyo, Japan, Japan's, Koll, Sycamore

☆ We'll see a broadening of market participation going into 2024, says Edward Jones' Monahajan
▼ + stars: | 2023-07-05 | 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 EmailWe'll see a broadening of market participation going into 2024, says Edward Jones' MonahajanMona Monahajan, Edward Jones senior investment strategist, and JJ Kinahan, IG North America CEO, join 'Squawk Box' to discuss the latest market trends, expectations for the second half, and more.

Persons: Edward Jones, Mona Monahajan, JJ Kinahan Organizations: IG North America

☆ Flying the FAA’s Unfriendly Skies
▼ + stars: | 2023-07-04 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/federal-aviation-administration-ig-report-airlines-air-traffic-control-pete-buttigieg-d97f122c

Persons: Dow Jones

☆ Australia's central bank leaves its key rate unchanged, says inflation 'passed its peak'
▼ + stars: | 2023-07-04 | by ( Jihye Lee | ) www.cnbc.com time to read: +2 min

David Gray | Getty Images News | Getty ImagesAustralia's central bank held its official cash rate steady at 4.10% in a closely watched decision Tuesday. Economists were split on expectations ahead of the decision, with 16 out of 31 respondents surveyed by Reuters forecasting a hike of 25 basis points and 15 expecting the central bank to hold. Stocks cheered the move as the central bank said inflation in the economy has "passed its peak." He added that the central bank will continue to closely monitor developments in the global economy, household spending trends and inflation forecasts. The central bank's decision to hold rates steady was to "assess" the effects of the multiple rate hikes so far, according to IG's Australia market analyst Tony Sycamore.

Persons: David Gray, Stocks, RBA, Philip Lowe, Lowe, Tony Sycamore, —, Sycamore Organizations: Sydney Opera House, Getty, Reuters, U.S ., Australia Bureau, Statistics, CNBC Locations: Australia

The pan-European STOXX 600 index (.STOXX) dipped 0.2%, reversing gains of some 0.4%, to kick off the first day of the second half of the year on the back foot. The broader healthcare index (.SXDP) fell 2.0%, leading falls among sectors. The moves helped Italy's financials-heavy benchmark FTSE MIB (.FTMIB) climb 0.8%, a bright spot among other bourses in the region. The broader STOXX 600 had gained 8.7% in the first half of the year, largely due to strong gains early into 2023. "A muted atmosphere prevails across stock markets this afternoon," said Chris Beauchamp, chief market analyst at online trading platform IG.

Persons: Assicurazioni, Delfin, Italy's, Chris Beauchamp, Amruta Khandekar, Shreyashi Sanyal, Matteo Allievi, Nivedita Bhattacharjee, Janane Venkatraman, Conor Humphries Organizations: Miners, AstraZeneca, Generali, British, MIB, European Central Bank, Thomson Locations: China, Bengaluru, Gdansk

☆ How many followers you need on Instagram to get paid
▼ + stars: | 2023-07-03 | by ( Sydney Bradley | Shriya Bhattacharya | ) www.businessinsider.com time to read: +3 min

Instagram influencers share how many followers they needed to get paid and how much they earn. With a few thousand followers on Instagram these days, it's easy to ask yourself: When can I start making money? Many Instagram influencers get paid with less than 10,000 followers. For instance, Tess Barclay, a Toronto-based nano influencer who creates lifestyle content, started earning money with a few thousand Instagram followers. Check out 7 top brands that work with micro influencers on Instagram, TikTok, and moreToday, Instagram influencers no longer need hundreds of thousands of followers to start earning cash.

Persons: Instagram, influencers, Tess Barclay, Barclay Organizations: Live Locations: Toronto

☆ A former Instagram product manager explains why he's 'skeptical' the company can successfully launch a new standalone app, as it preps its Twitter rival
▼ + stars: | 2023-07-03 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +5 min

Insider spoke with a former Instagram product manager to better understand the platform's decisions. IGTV, which launched in 2018 with its own separate app, was sunset in 2022 and its app is now defunct. But Instagram's ethos was its own downfall when it came to rolling out the IGTV product and separate app. The only other alternative, then, is adding a Twitter-like feed to the main Instagram app. "It's almost this predetermined life cycle of a social consumer app," Wei said, adding that Facebook has already gone though this phase.

Persons: Instagram, Eric Wei —, —, Wei, didn't, Oprah, Kevin Systrom, IGTV, We've, Adam Mosseri, Instagram's, Mary Organizations: Twitter, Facebook, YouTube, Meta Locations: Instagram

☆ This is where to find hot yields in July, according to UBS
▼ + stars: | 2023-07-03 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Now's the time to focus on fixed income over equities, according to UBS. Yet some fixed income products are more attractive than others right now. Mortgage-backed securities UBS calls mortgage-backed securities a "unique" opportunity in fixed income. Preferred securities Banks and financial institutions issue the majority of preferred securities , which have characteristics of both stocks and bonds. UBS recently upgraded preferred securities to most preferred.

Persons: it's, Frank Sileo, Jason Draho, Sileo, — CNBC's Michael Bloom Organizations: UBS, Dow Jones Industrial, Nasdaq, AAA

☆ A former Instagram product manager breaks down the company's 2 key characteristics and how they could help or hurt its Twitter competitor
▼ + stars: | 2023-06-30 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +5 min

Insider spoke with a former Instagram product manager to better understand the platform's decisions. But Eric Wei — a former Instagram product manager from 2017 to 2019, and cofounder of creator fintech startup Karat — has spent years decoding it. But Instagram's ethos was its own downfall when it came to rolling out the IGTV product and separate app. The only other alternative, then, is adding a Twitter-like feed to the main Instagram app. "It's almost this predetermined life cycle of a social consumer app," Wei said, adding that Facebook has already gone though this phase.

Persons: Instagram, Eric Wei —, —, Wei, didn't, Oprah, Kevin Systrom, IGTV, We've, Adam Mosseri, Instagram's, Mary Organizations: Twitter, Facebook, YouTube, Meta Locations: Instagram

U.S. West Texas Intermediate crude (WTI) fell 5 cents or 0.1% to $69.81. While it would be Brent's first monthly gain for 2023, it would mark a second for WTI after a gain in April. Despite the probable monthly gain, on a quarterly basis, Brent looks set for a loss of about 6% while WTI appears headed for a decline of about 7%. The oil price gains on Friday were, however, capped by weak Chinese economic data and fears of higher interest rates. U.S. oil rig count data, an indicator of future supply, will be released later in the day.

Persons: Brent, WTI, Yeap, Rong, Novorossiisk, Robert Carnell, Jerome Powell, Arathy Somasekhar, Muyu Xu, Edwina Gibbs, Robert Birsel Organizations: Brent, . West Texas, U.S . Energy Information Administration, IG, ING, Federal Reserve, Thomson Locations: U.S, Saudi Arabia, That's, OPEC, Primorsk, Ust, Houston, Singapore

☆ Australia's consumer inflation hits 13-month low, adding to rate pause case
▼ + stars: | 2023-06-28 | by ( Stella Qiu | ) www.reuters.com time to read: +2 min

SYDNEY, June 28 (Reuters) - Australia's consumer inflation slowed to a 13-month low in May, driven by a sharp pullback in fuel, while a measure of core inflation also cooled in a sign interest rates might not have to rise again in July. Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 5.6% in the year to May, marking the smallest increase since April last year. That was down from 6.8% the previous month and well below market forecasts of 6.1%. The core trimmed mean measure of CPI rose by an annual 6.1%, a seven-month low and again down from 6.7% in April. Wednesday's data showed the most significant drivers were an 8.4% jump in housing and a 7.9% increase in food and non-alcoholic beverages.

Persons: Tony Sycamore, Marcel Thieliant, Stella Qiu, Sam Holmes Organizations: SYDNEY, Australian Bureau, Statistics, Reserve Bank of Australia, IG, Bank, Capital Economics, Thomson

☆ How Do Instagram Influencers Make Money and How Much They Earn
▼ + stars: | 2023-06-28 | by ( Sydney Bradley | ) www.businessinsider.com time to read: +6 min

Influencers on Instagram earn money in many ways. Influencers on Instagram can also earn commissions on affiliate links, profits from selling merchandise, and proceeds from monetization tools Meta has introduced. Instagram is even testing an ad-revenue sharing program that would let creators earn money for high-performing reels on the app. Here's a comprehensive breakdown of Insider's cover on How much money Instagram influencers make:How much money Instagram influencers make from brand dealsMany influencers earn money on Instagram by working with brands on sponsored content. Read more:Reselling clothingResale apps like Poshmark, Depop, and Etsy have become lucrative small businesses for many Instagram creators.

Persons: influencers, Agutu, Nate White, Jour'dan Haynes, Meta, Instagram influencers, Instagram, Read, Huda Organizations: Insider, Facebook, YouTube, Meta

☆ DOJ issues scathing rebuke of Bureau of Prisons detailing multiple failures that led to Jeffrey Epstein’s suicide
▼ + stars: | 2023-06-27 | by ( Holmes Lybrand | ) edition.cnn.com time to read: +5 min

The report indicated the Bureau of Prisons’ failings were troubling not only because they did not safeguard Epstein but also because they “led to numerous questions about the circumstances surrounding Epstein’s death” and denied Epstein’s victims justice. Two guards on duty the night of Epstein’s death later admitted to falsifying records at the time. According to the initial indictment against the two guards, on the night of Epstein’s suicide, both individuals repeatedly failed to complete the required prisoners check during their watch. On the day before he was found dead in his prison cell, Epstein was also allowed by prison staff to make an unmonitored phone call, despite prison policy requiring all phone calls to be monitored. In August 2021, two years after Epstein’s death, the BOP announced it would close Metropolitan Correctional Center, citing the need to improve conditions in the facility.

Persons: Jeffrey Epstein, ”, Epstein, ” Epstein, OIG Organizations: CNN, Department’s Office, Prisons, Federal Bureau of Investigation’s, Metropolitan Correctional Center, Justice Department, Southern, of, MCC, FBI, Force, BOP, Correctional Center, Office Locations: New York, of New York

Hong Kong/London CNN —Oil prices edged higher, while global stocks and the ruble fell early Monday as investors reacted to the weekend’s brief and chaotic insurrection in Russia. Markets were largely focused on whether the turmoil in Moscow could disrupt global energy supplies. US crude oil futures briefly climbed 1.3% during Asian trading hours. Signs that global energy demand could weaken as economies slow have pushed US crude prices down by nearly 14% so far this year to just under $70 a barrel. Stocks slip, ruble slidesReacting to the short-lived Wagner insurrection, the Russian ruble opened at its lowest level in nearly 15 months.

Persons: Brent, Vladimir Putin, Antony Blinken, ”, Yeap Jun Rong, Wagner, Jeffries, Jerome Powell Organizations: London CNN, Rystad Energy, Wagner Group, IG Group, Brent, Russian, Japan’s Nikkei, Bank of England, Bank of Japan Locations: Hong Kong, London, Russia, Moscow, Asia, Shanghai

☆ VIEW Bank of England delivers hefty rate hike
▼ + stars: | 2023-06-22 | by ( ) www.reuters.com time to read: +6 min

Traders scrambled to price in a peak to UK rates of as much 6% and its implications for the risk of recession, and rate-sensitive stocks like banks and homebuilders slid. MONEY MARKETS: UK 2-year gilts dropped sharply, then rose after the decision but were last unchanged at 5.04%. But even if the bank hasn't offered up any new guidance, the rate decision itself is revealing. The UK has the unenviable title of highest core inflation rate in the G7, and by quite some margin. "Having said that, their policy is now more data dependent, the bank had to deliver a rate increase.

Persons: homebuilders, Sterling, gilts, JAMIE NIVEN, JAMES SMITH, hasn’t, hasn't, BoE, SEEMA SHAH, CHRIS BEAUCHAMP, Bailey, PAUL OBERSCHNEIDER, BOE, ” ROBERT JEFFREE, GARY SMITH, EVELYN, Yoruk Organizations: Bank of England, MPC, Traders, CANDRIAM, ING, LONDON, IG GROUP, Treasury, EMEA, Thomson

☆ Gold listless as investors hunt for Fed rate clues
▼ + stars: | 2023-06-20 | by ( ) www.cnbc.com time to read: +2 min

Spot gold held its ground at $1,949.59 per ounce by 0248 GMT, while U.S. gold futures fell 0.5% to $1,961.20. "Gold prices seem exhausted lately, as intermittent bounces over the past month have failed to find much follow-through ... Investors are now focusing on Powell's congressional testimony on Wednesday and Thursday for further guidance on interest rates following the Fed's hawkish pause on monetary policy tightening last week. Although gold is considered a hedge against inflation, interest rate hikes raise the opportunity cost of holding non-yielding bullion. Additionally, the European Central Bank should raise interest rates again in July as inflation risks are skewed towards higher outcomes, Slovakia's central bank chief said on Monday, while the Bank of England is expected to raise rates by another 25 basis points on Thursday.

Persons: Jerome Powell, Yeap Jun Rong, IG's, Rong Organizations: U.S . Federal, Investors, Fed, U.S ., European Central Bank, Bank of England Locations: China

They are to be built on some of the 33,000 hectares (330 square km) of former coal mines in Lusatia by 2030. The plans are emblematic of the drive by Chancellor Olaf Scholz's government to accelerate the phase-out of coal power towards a carbon neutral economy by as early as 2030 versus the agreed target of 2038. Many of LEAG's 8,000 coal workers are expected to retire by 2030 or retrain in renewable energy. Only 18% of locals believe politicians are doing enough to counteract the consequences of the coal phase-out, a survey published in May by broadcaster rbb showed, while 70% worry electricity could become expensive. "It is fundamentally unrealistic that the coal phase-out can be achieved in 2030," Christine Herntier, mayor of the town of Spremberg, told Reuters.

Persons: LEAG, Chancellor Olaf Scholz's, Ute Liebsch, Liebsch, Knut Abraham, Abraham, rbb, Christine Herntier, Rainer Schiller, Schiller, Ben Schueppel, Ingolf Arnold, Matthias Williams Organizations: Green, Reuters, Park, Thomson Locations: Berlin, FORST, Germany, Czech, Lusatia, Brandenburg, Saxony, Spremberg, Herntier

☆ Oil rebounds on strong China refinery data but economic outlook caps gains
▼ + stars: | 2023-06-15 | by ( ) www.cnbc.com time to read: +2 min

Oil rebounded on Thursday after the previous day's plunge, as data showed a jump in refinery runs at the world's top crude importer China, though a weak economic backdrop capped gains. China's oil refinery throughput in May rose 15.4% from a year earlier, data showed on Thursday, hitting its second highest total on record. But a weak economic outlook capped price gains on Thursday, as China's industrial output and retail sales growth in May missed forecasts. The somber Chinese data weighed on oil prices, said Priyanka Sachdeva, a market analyst at Phillip Nova. A high-for-longer rate outlook may lead to further growth pressures and keep oil demand conditions in check, said Yeap Jun Rong, a market strategist at IG.

Persons: refiners, Priyanka Sachdeva, Phillip Nova, Sachdeva, Yeap Jun Rong, Yeap Organizations: Brent, . West Texas, U.S . Federal Reserve, IG, European Central Bank, Bank of England Locations: China

☆ Asian shares up, dollar wobbly as US inflation data reinforces Fed pause bets
▼ + stars: | 2023-06-14 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

The much-watched U.S. CPI report overnight showed prices barely rose in May, with just a 0.1% increase from the prior month. On an annual basis, consumer prices rose 4%, the smallest in more than two years, slowing from April's 4.9%. Short-dated German yields jumped to a 3-month high overnight as investors looked to the rate decision from the European Central Bank on Thursday. Oil prices were lower in early trade after receiving a 3% boost on China's policy rate cut. U.S. crude futures were off 0.5% to $69.12 per barrel, while Brent crude futures fell 0.4% to $74.02 per barrel.

Persons: China's, Tony Sycamore, Jerome Powell, Stella Qiu, Shri Navaratnam Organizations: Nikkei, Federal Reserve, U.S, CPI, Fed, Tokyo's Nikkei, Bank of Japan, Nasdaq, IG, Bank of England, European Central Bank, Brent, Thomson Locations: China, Hong Kong, SYDNEY, Asia, Pacific, Japan

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