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Stock Market Today: Dow Futures Waver as Global Markets Drop
  + stars: | 2023-08-14 | by ( ) www.wsj.com   time to read: 1 min
Global markets slipped Monday, with Japan's Nikkei 225 and South Korea's Kospi retreating. A worsening crisis at the leading Chinese property developer Country Garden, and weak Chinese loan data, weighed on Hong Kong's Hang Seng Index. Index were flat to modestly higher early Monday, while Treasury yields were also little changed. Recent days have seen the summer stock-market rally starting to cool, with the S&P 500 falling modestly for two weeks in a row. In the bond market, the 10-year Treasury yield ended Friday at 4.166%, its second-highest settle this year, after hotter-than-expected producer-price data.
Organizations: Japan's Nikkei, Index, Treasury
Stock futures wavered as investors awaited another reading on inflation. Stocks got a small bump yesterday after the consumer-price index showed modest underlying price pressures . Stock futures oscillated. Gilts led a selloff in European government bonds, the FTSE 100 slid and the pound rallied, after data showed the U.K. economy grew last quarter. The Shanghai Composite Index lost 2% after data showed a steep drop in new loans issued by Chinese banks, signaling that credit demand remains weak.
Persons: Stocks, Gilts Organizations: Stock, Nasdaq, Dow, Bank of England, UBS, Credit Suisse, Overseas Locations: U.S, Swiss, Europe, Shanghai
Earlier this year, the British government promised to send Ukraine AS90 self-propelled howitzers. An AS90 self-propelled howitzer has an effective range of around 30 kilometers (18.6 miles). After completing their seven-week training course, Ukrainian artillery recruits will be sent back home, according to the MoD's update and Forces News. "The program is part of the UK's enduring commitment to support Ukraine in its fight against Russia," the MoD added. In May, British Prime Minister Rishi Sunak told Ukrainian President Volodymyr Zelenskyy that Britain's support for his country will "never waver."
Persons: 000 U Organizations: Ukraine, Ministry of Defence, Service, British Ministry of Defence, Forces, Russia, MoD, — Ministry of Defence Locations: Wall, Silicon, Ukraine
BEIJING, July 15 (Reuters) - The European Union must further "clarify" its position on its strategic partnership with Beijing, China's top diplomat Wang Yi told European Union foreign policy chief Josep Borrell, as EU leaders called for reduced dependence on China. The launch of an EU-China comprehensive strategic partnership in 2003 had promised to elevate ties beyond trade and investment. In March, European Commission President Ursula von der Leyen said a hardening of China's position required Europe to "de-risk" both economically and diplomatically. During his meeting with Borrell, Wang called on both sides to guard against the politicisation of economic issues and the use of "de-risking" as another term for "decoupling". There is no fundamental conflict of interest between China and the EU, Wang said.
Persons: Wang Yi, Josep Borrell, Wang, Borrell, Ursula von der Leyen, Ryan Woo, Michael Perry, William Mallard Organizations: European Union, EU, Twitter, Thomson Locations: BEIJING, Beijing, China's, China, EU, Moscow, Ukraine, Jakarta, Europe, Taiwan
REUTERS/Jason Lee/File PhotoTAIPEI, July 14 (Reuters) - China's military has been flexing its muscles this week around Taiwan practicing joint force operations far out at sea, ahead of Taipei holding its annual war games at the end of the month when Taiwan will simulate breaking a Chinese blockade. Chieh Chung, a military researcher at Taiwan's National Policy Foundation think tank, said practicing long-distance missions was important for China as they would be the "main combat mode" in any conflict. "They are expanding military deterrence actions to create a cognitive effect that Taiwan's national defences are useless," the official said. China routinely denounces U.S. military activity in the strait as provocation. "The Eastern Theatre Command are well seasoned, but it's the Southern Theatre Command that needs training for long-distance support," Su said.
Persons: Jason Lee, Chieh Chung, Han Kuang, Tsai Ing, Kevin McCarthy, Xi Jinping, Su Tzu, yun, Su, Yimou Lee, Roger Tung, Yew Lun Tian, Ben Blanchard, Robert Birsel Organizations: Chinese Air Force, REUTERS, Foundation, Taiwan, House, Eastern Theatre Command, U.S . Navy, Institute for National Defence and Security Research, Southern Theatre Command, Thomson Locations: Beijing, TAIPEI, Taiwan, Taipei, China, Philippines, Japan, Borneo, Los Angeles
New Aussie central bank boss faces two-front war
  + stars: | 2023-07-14 | by ( Antony Currie | ) www.reuters.com   time to read: +3 min
MELBOURNE, July 14 (Reuters Breakingviews) - Michele Bullock cannot count on a honeymoon period when she takes over at the Reserve Bank of Australia in September. The country’s Treasurer Jim Chalmers on Friday unveiled her appointment as the central bank’s first female governor after deciding not to extend gaffe-prone Philip Lowe’s seven-year tenure. By the time she steps up, Bullock, currently deputy governor, will probably face an economic war on two fronts. Lowe is a fall guy for the failure by global central banks to take rising prices seriously following the pandemic. Follow @AntonyMCurrie on TwitterCONTEXT NEWSMichele Bullock will be the next governor of the Reserve Bank of Australia, the country’s Treasurer Jim Chalmers announced on July 14.
Persons: Michele Bullock, Jim Chalmers, Philip Lowe’s, Bullock, Lowe, Chalmers, Philip Lowe, Una Galani, Thomas Shum Organizations: MELBOURNE, Reuters, Reserve Bank of Australia, Consumer, Thomson Locations: Australia
President Biden concluded a meeting of NATO allies on Wednesday in Vilnius, Lithuania, with an address to that country, and the world, comparing the battle to expel Russia from Ukraine with the Cold War struggle for freedom in Europe, and promising “we will not waver” no matter how long the war continues. His speech seemed to be preparing Americans and NATO countries for a confrontation that could go on for years, putting it in the context of momentous conflicts in Europe’s war-torn past. “Putin still wrongly believes that he can outlast Ukraine,” Mr. Biden said, describing the Russian leader as a man who made a huge strategic mistake in invading a neighboring country and now is doubling down. “After all this time Putin still doubts our staying power. He is making a bad bet.”The speech, at Vilnius University, came after a series of important victories for Mr. Biden as NATO’s de facto leader, at a time of rapid change for the alliance.
Persons: Biden, Vladimir V, Putin, “ Putin, ” Mr, Mr Organizations: NATO, Vilnius University Locations: Vilnius, Lithuania, Russia, Ukraine, Europe
CNN —President Joe Biden got almost everything he wanted from the NATO summit. President Joe Biden speaks at Vilnius University in Vilnius, Lithuania, Wednesday, July 12, 2023, after attending the NATO Summit. On Wednesday for instance, Russia marked the NATO summit by launching airstrikes against Kyiv region. US President Joe Biden (R) attends a meeting with Ukrainian President Volodymyr Zelensky at the sidelines of the NATO Summit in Vilnius on July 12, 2023. That President Biden and NATO didn’t invite Ukraine to NATO because he’s afraid of Russia?” Kaleniuk asked.
Persons: Joe Biden, Volodymyr Zelensky, craves, “ It’s, ” Biden, Zelensky, Biden, , ” Zelensky, Russia –, Putin, NATO’s, craven, Susan Walsh, , Donald Trump, Mike Pence, Vladimir Putin, Jeff Flake, Fumio Kishida, barnstormed, ANDREW CABALLERO, REYNOLDS, Andrew Caballero, Reynolds, Jake Sullivan, Daria Kaleniuk, ” Kaleniuk, Sullivan, Dmitry Peskov, Ukraine –, William Burns, he’d, Organizations: CNN, NATO, Poignantly, Russia, Congress, Nordic, Biden, Vilnius University, Ukraine, Capitol, Republican, Japanese, GOP, ” Ukraine, AFP, Getty, , NATO didn’t, Kremlin, CIA Locations: Russia, Ukraine, Soviet, Europe, Sweden, Finland, Kyiv, Lithuania, Vilnius, Western, Crimea, US, Ankara, Turkey, AFP, Ukrainian, NATO, Moscow, Russian
News analysisPresident Biden and the Ukrainian president, Volodymyr Zelensky, with G7 leaders at the NATO summit in Vilnius, Lithuania, on Wednesday. Mr. Zelensky has never pushed for Ukrainian NATO membership while the war is raging, nor has anyone else. Mr. Zelensky has never pushed for Ukrainian NATO membership while the war is raging. “I think the win here for Ukraine is the sort of cultural acceptance that Ukraine belongs in NATO,” he said. Image French President Emmanuel Macron has moved from opposition to Ukrainian membership in NATO to strong support for it.
Persons: Biden, Volodymyr Zelensky, , Zelensky, Mauricio Lima, John Kornblum, Mr, Kornblum, , Emmanuel Macron, Michal Baranowski, François Heisbourg, ” Ben Wallace, Macron, Ludovic Marin, Jens Stoltenberg, Russia —, Olaf Scholz, Germany, Doug Mills, Camille Grand, Heisbourg, Ukraine can’t, ” Lara Jakes Organizations: NATO, Lithuania — NATO, Kyiv, Ukraine, Central, Ukrainian NATO, Grad, The New York Times, Ukraine Council, German Marshall Fund, , , Washington, Agence France, Russia, New York Times, Ukraine —, European Council, Foreign Relations Locations: Vilnius, Lithuania, VILNIUS, Turkey, Ukraine, NATO, Ukrainian, American, Germany, France, Warsaw, “ Ukraine, Bucharest, French, United States, Bratislava, Central Europe, Russia
U.S. President Joe Biden delivers a speech on NATO at the Vilnius University in Vilnius, Lithuania, after the end of the NATO Summit, July 12, 2023. WASHINGTON — President Joe Biden galvanized NATO allies and reaffirmed U.S. commitment to Ukraine Wednesday as Russia's devastating war on its neighbor marches past its 500th day. The U.S. stepped up, NATO stepped up and our partners in the Indo-Pacific stepped up," Biden said in an address from Vilnius, Lithuania. "We will not waver," he said, promising that the U.S. will continue to support Ukraine "for as long as it takes." The allies welcomed the arrival of Ukrainian President Volodymyr Zelenskyy, who reiterated calls to join NATO and vowed its membership would make the world's most powerful military alliance stronger.
Persons: Joe Biden, Biden, Volodymyr Zelenskyy Organizations: NATO, Vilnius University, NATO Summit, WASHINGTON, Ukraine, Kyiv Locations: Vilnius, Lithuania, Ukraine, U.S, Lithuania's
European Central Bank President Christine Lagarde said Tuesday that inflation is still too high and it's still too early for her organization to declare victory over consumer price rises. Speaking at the Sintra central banking event in Portugal, she said: "Inflation in the euro area is too high and is set to remain so for too long. But the nature of the inflation challenge in the euro area is changing." The euro area has faced higher inflation rates mainly in the wake of Russia's invasion of Ukraine, which drove up energy costs across the bloc. "We have made significant progress but — faced with a more persistent inflation process — we cannot waver, and we cannot declare victory yet," she added.
Persons: Christine Lagarde Organizations: European Central Bank, ECB Locations: Sintra, Portugal, Ukraine
U.S. stock futures and bond yields edged higher ahead of a relatively busy day of data that will be scrutinized for signals about the health of the economy. However, Lordstown Motors stock tumbled more than 60% premarket after the electric-truck startup filed for bankruptcy and sued its investment partner Foxconn Technology. ECB President Christine Lagarde said the central bank would likely raise rates in July , and was committed to returning inflation to 2% “come what may.”U.S. stock futures gained. Futures tied to the tech-focused Nasdaq-100 rose 0.4%, while those linked to the S&P 500 gained 0.2%. Bond yields rose.
Persons: Christine Lagarde, Dow industrials, Brent, Hang Seng Organizations: Nasdaq, Lordstown Motors, Foxconn Technology, Central, Futures, Treasury, Nikkei Locations: Russia, Europe, Asia, Hong, Shanghai
Russia's soldiers may lose motivation in Ukraine if Wagner mutiny progresses, former US general says. "No soldier wants to die in a war that he thinks might already be lost," Lt. Gen. Ben Hodges told Insider. Wagner boss Yevgeny Prigozhin appears to be leading his fighters to Moscow in a move some are describing as a coup. "If the High Command appears to waver or be vulnerable, they will question their own motivation and survival and sense of purpose for the war," Hodges said. Putin described the Wagner uprising as a "stab in the back" and said Russian forces would fight back against the mercenary group.
Persons: Wagner, Ben Hodges, Yevgeny Prigozhin, , Hodges, Prigozhin, it's, Putin, it'll Organizations: Service, Ukrainians, Command Locations: Ukraine, Moscow, American, Rostov, Southern Russia, Russian, Russia
Inside China's spy war on American corporations
  + stars: | 2023-06-21 | by ( Eamon Javers | ) www.cnbc.com   time to read: +6 min
Top intelligence and law enforcement officials in Washington are issuing a stark warning to American companies: The Chinese government wants to replace you. Asked whether the Chinese government wants to compete with or eliminate American companies, FBI Director Christopher Wray told CNBC: "Well, their definition of competing, I think, involves embracing the idea of eliminating." The paid-in foreign investment reached 127.69 billion yuan, up 14.5% year on year. Foreign companies including US investors have been upbeat about the China market and plan to expand in China. Former GE engineer David Zheng and GE Aerospace also declined to comment.
Persons: Christopher Wray, Sen, Marco Rubio, Rubio, Mark Warner, , Warner, Xu Yanjun, Xu, James Olson, Xu Yanjun's, David Zheng, – CNBC's Katherine Liu, Bria Cousins, Laura Measher, Wally Griffith Organizations: CNBC, American, Democrat, World Trade, Ministry of State Security, GE, Boeing, Honeywell, GE Aviation, FBI, CIA, American Chamber of Commerce, Business Environment, US Department of Commerce, GE Aerospace Locations: Washington, America, U.S, China, Nanjing, Cincinnati, South China, reinvest
CNN —Approximately 100 letters containing a white powder have been received by state legislators and public officials across Kansas, officials said, setting off an investigation that includes state and federal agencies. Republican state Rep. Stephen Owens said he also received one of the letters and believes the others who received them are fellow Republicans. A copy of the letter received by Kansas Rep. Stephen Owens. “It was very deliberate, very intentional to get us to open the letters,” Owens said. Despite the letters, Owens says his resolve and that of his Republican colleagues will not waver.
Persons: Daniel Hawkins, Hawkins, Carrie Rahfaldt, Stephen Owens, Owens, Laura Kelly, , ” Owens, , Tony, Mattivi, State Fire Marshall, ” Rahfaldt Organizations: CNN, Kansas Bureau, Investigation, Republican, Republicans, Kansas Rep, Stephen Owens . KS, Senate, Democratic Gov, KS National Guard, FBI, State Fire Locations: Kansas
CPI Report Today: Dow Futures Waver Ahead of Inflation Data
  + stars: | 2023-06-13 | by ( ) www.wsj.com   time to read: +1 min
Stock futures are edging higher ahead of inflation data that could shed light on how much further the Federal Reserve may raise interest rates in the months ahead. While the headline pace of inflation has slowed this year, investors are focused on core inflation, which is expected to have remained stubbornly strong in May. The central bank is expected to hold interest rates steady , but investors think it could signal more rate increases in the future. The yield on 10-year government bonds rose to 4.409% from 4.323% after unexpectedly strong U.K. wage-growth data. Brent futures rose over 2% to around $73.30 a barrel, after sliding 3.9% Monday.
Organizations: Federal Reserve, Stock, Dow, Treasury, Japan’s Nikkei, Locations: China, Shanghai, Europe, Brent
The Players Are the Trophies Now
  + stars: | 2023-06-09 | by ( Rory Smith | ) www.nytimes.com   time to read: +1 min
Two things stood out about Karim Benzema’s arrival in Jeddah on Wednesday evening. From the second his private jet touched down at King Abdulaziz International Airport to the moment — an unspecified but apparently inordinate time later — that he finally made it out into the Saudi Arabian night, Benzema looked distinctly baffled. His smile did not waver, but nor did the slight hint of confusion in his eyes. Throughout, Benzema had the countenance of a man who had been recently startled. More striking still, though, was that every single step of his journey was being documented.
Persons: Karim Benzema’s, Benzema, Al, videographers, Organizations: King Abdulaziz International Airport, Saudi Premier League Locations: Jeddah, Saudi, Ittihad, Al
In a clemency petition sent to Mr. Parson last month, several jurors who had voted to sentence Mr. Tisius to death said they now believe life imprisonment was appropriate. Mr. Tisius’s lawyers had also argued that another juror from the sentencing trial was unable to read, a requirement under Missouri law for jury service. Mr. Tisius’s legal appeals have been exhausted. That left the possibility that Mr. Parson would step in and halt the execution. A former sheriff, Mr. Parson was seen as unlikely to commute the sentence.
Persons: Mike Parson, Michael Tisius, Mr, Parson, Tisius, , ” Mr, Catholic Church — Organizations: Republican, U.S, Supreme, American Bar Association, Missouri State Public Defenders, European Union, Catholic Church Locations: Missouri, Randolph County, The State
For companies, the stakes are high this Pride
  + stars: | 2023-06-01 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +10 min
New York CNN —Companies have long embraced Pride Month in June as an uncomplicated way to market to members of the LGBTQ+ community while telegraphing progressive values. Gavin Newsom called out Target’s CEO for “selling out the LGBTQ+ community to extremists.”The current landscape “is alarming,” Todd said. “That middle ground is going away.”So this year, companies that want to participate in Pride have to be prepared to take a real stance. Some of those lashing out have described a campaign against Pride itself, rather than Bud Light or Target (TGT) specifically. It won’t be worth whatever they think they’ll gain.”It’s no coincidence that the anti-trans assault comes as trans rights are under legal attack across the nation.
Persons: Bud Light, Bud Light’s Instagram, Bud, BUD, Eric Thayer, , Daniel Korschun, , , Jared Todd, Gavin Newsom, ” Todd, ” Korschun, Sen, J.D, Vance, J, Justin Sullivan, Anna Moneymaker, Matt Walsh, Sarah Kate Ellis, Ellis, Trevor, Seth Wenig, ” Ellis, Todd, It’s, didn’t, Colin Kaepernick, Drexel’s, Korschun, Jared Watson, ” Watson, Watson, Pattie Gonia, ’ ” Watson, Organizations: New, New York CNN — Companies, Target, Bud Light, Anheuser, Busch, National LGBT Chamber of Commerce, Bloomberg, Getty, Drexel University, Wall Street, Foundation, Human Rights, HRC, California Gov, , Pride, Twitter, HumanRights, UCLA School of Law, GLAAD, Morning, Nike, New York University, Locations: New York, Ohio, Target, California, America, New Jersey
HIROSHIMA, Japan — President Biden and other leaders of the world’s major industrial democracies rallied around Ukraine on Sunday with vows of resolute support and promises of further weapons shipments even as Russian forces claimed to have seized full control of a bitterly contested city. Mr. Biden and his counterparts figuratively and, in some cases, literally wrapped their arms around President Volodomyr Zelensky of Ukraine, who made an audacious journey halfway around the world from his ravaged homeland to Hiroshima, Japan, to solicit aid for the first time in person from the Group of 7 powers at their annual summit. “Together with the entire G7, we have Ukraine’s back, and I promise we’re not going anywhere,” Mr. Biden told Mr. Zelensky while announcing another $375 million in artillery, ammunition and other arms for Ukraine. At a later news conference, Mr. Biden voiced defiance of President Vladimir V. Putin of Russia. “I once more shared and assured President Zelensky, together with all G7 members and our allies and partners around the world, that we will not waver,” he said.
One way to raise the debt ceiling might be to build a coalition of Republicans and moderate Democrats to isolate the extremists in his own party. “I cannot in good conscience support a debt ceiling proposal that pushes people into poverty,” Fetterman said. The length of a debt ceiling raise could also be an issue. Many Democrats want a deal that pushes the politically perilous need to raise the debt ceiling past the next election. Potentially, both chambers could vote on a short-term extension to raise the debt ceiling to allow time for more negotiations.
NEW YORK, May 12 (Reuters) - A U.S. stocks rally is leaving behind smaller companies, a sign that investors may be bracing for economic turmoil ahead. "Typically in a recession, small caps underperform." Last month it downgraded its view on U.S. small caps from "unfavorable" to "most unfavorable." Some investors are more upbeat about the outlook for small caps, particularly when looking beyond the next several months. One reason is that small caps, being sensitive to economic fluctuations, tend to shine early in a market recovery.
US stocks slid on Thursday as investors dealt with fresh volatility in bank shares. The drop continued yesterday's losses after the Fed hiked rates another 25 basis-points. download the app Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy PolicyUS stocks slid on Thursday as investors fretted over more banking turmoil. All three indexes ended the day lower, with the Dow Jones Industrial Average shedding almost 300 points. The drop in stocks extended yesterday's losses after the Federal Reserve hiked rates for a 10th time, adding to fears that the economy could be headed for a recession.
Futures waver as PacWest slide offsets Fed pause optimism
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +3 min
The Fed over the past 14 months has raised rates by 500 basis points to tame price pressures in its most aggressive policy tightening since the 1980s. The KBW Regional Banking index (.KRX) and S&P 500 Banks index (.SPXBK) have lost around 29% and 15% so far in 2023. Investors will also monitor weekly jobless claims for further clues on the state of the labor market. Qualcomm Inc (QCOM.O) slumped 6.7% after third-quarter forecasts missed estimates, while Etsy Inc (ETSY.O) gained 3% on beating expectations for quarterly revenue. Reporting by Ankika Biswas in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.
Earnings are in focus again Wednesday. Stock futures are rising ahead of results from companies including Boeing before markets open and Meta Platforms after the close. ET: the Journal's Nick Timiraos and Gunjan Banerji will join finance editor Charles Forelle for a discussion about the Fed and markets ahead of the central bank's meeting next week. Watch here. What we're reading:
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