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☆ Chinese banks should step up lending to private sector, central bank official quoted
▼ + stars: | 2023-08-30 | by ( ) www.reuters.com time to read: +2 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsBEIJING, Aug 30 (Reuters) - An official at China's central bank urged banks to step up lending to private companies during a meeting on Wednesday with financial regulators, corporations and lenders, the state-owned Securities Times reported. The central bank will ask financial institutions to set annual targets for services to private firms and vigorously expand loans to companies that are borrowing for the first time, it said. Investment by private companies shrank 0.5% in the first seven months of the year, bigger than the 0.2% decline for the first half. The Shanghai and Shenzhen bourses, major banks including the Industrial and Commercial Bank of China (601398.SS) and China Construction Bank (601939.SS) as well as at least 11 private firms participated the meeting, according to Yicai financial news.

Persons: Tingshu Wang, Ma Jianyang, Yicai, Ellen Zhang, Ryan Woo, Edwina Gibbs Organizations: People's Bank of China, REUTERS, Rights, Securities Times, Investment, Industrial, Commercial Bank of China, China Construction Bank, Titan Wind Energy, Longfor Group, HK, Seazen Holdings, Thomson Locations: Beijing, China, Rights BEIJING, Shanghai, Shenzhen

☆ CNBC Daily Open: Markets’ last hurrah for a horrid August
▼ + stars: | 2023-08-30 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Markets poppedU.S. stocks had a great Tuesday, with the S&P 500 and Nasdaq Composite advancing more than 1% each. Nvidia's record closeNvidia shares popped 4.16% Tuesday to close at a record of $487.84. But HSBC thinks now's precisely the time for investors to buy stocks and other risk assets.

Persons: Bitcoin, It's, now's Organizations: CNBC, Nasdaq, Nvidia, Google, Securities and Exchange Commission, Fidelity, HSBC Locations: BlackRock, Coinbase, China

☆ European markets climb, tracking global counterparts
▼ + stars: | 2023-08-29 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European stock markets were higher on Tuesday, tracking global counterparts as investors look ahead to a fresh round of economic data this week. Major European indices advanced on Monday, though U.K. markets were closed for a public holiday. Shares in Asia-Pacific rose overnight, building on the positive Monday session, as Hong Kong and mainland Chinese stocks led gains. As global stock markets enter the final few days of what has been a rough month, attention will turn toward a fresh batch of economic data. Of particular interest will be the U.S. Labor Department's release of nonfarm payrolls, which shows the pace of jobs and wage growth and could guide the Fed on how to proceed with its monetary policy.

Persons: Jerome Powell, Powell, nonfarm Organizations: Investors, Federal, U.S . Labor Locations: Asia, Pacific, Hong Kong

☆ Morning Bid: Quietly absorbing one more Fed hike
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +5 min

A sign is seen outside the 11 Wall St. entrance of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2021. Early Tuesday, futures priced almost a two-thirds chance of that additional quarter-point move in November. And yet - perhaps with the uncertainty dissipating, the economy still robust and bond markets better priced - world markets appear to be taking the tighter odds in their stride. More impressively in the circumstances, restive bond markets calmed down and bond yields continued to dial back from their highest in over a decade last week. Asia bourses more widely and European indices were higher, while Wall St futures were flat ahead of the open.

Persons: Brendan McDermid, Mike Dolan, Jerome Powell's, Jackson, Gina Raimondo, China's, Idalia, Michael Barr, JM Smucker, Susan Fenton Organizations: New York Stock Exchange, REUTERS, Atlanta, Overseas, U.S . Commerce, Garden Holdings, Wall, U.S, Dallas Fed, Federal, Treasury, HP, Reuters Graphics, Reuters Graphics Reuters, Thomson, Reuters Locations: New York, U.S, Washington, Beijing, China, HK, Asia, Florida's, Coast, Cuba

☆ Morning Bid: Dollar rockets as Powell trumps AI
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +5 min

Fed Chair Jerome Powell is due to deliver a keynote address to the annual central banking symposium in Jackson Hole at 1405 GMT. And given increasingly contrasting fortunes of economies on either side of the Atlantic, Powell's words are expected to contain a different message to the one from European Central Bank President Christine Lagarde later in the day at 1900 GMT. Turkey's lira gave back only some of Thursday's gains after its central bank shocked with a 750 basis point interest rate to 25%. Events to watch for on Friday:* Federal Reserve Chair Jerome Powell gives keynote speech at annual Fed symposium in Jackson Hole. European Central Bank President Christine Lagarde also speaks at Jackson Hole.

Persons: Mike Segar, Mike Dolan, Jerome Powell, Christine Lagarde, Ifo, Jackson, Powell, Patrick Harker, Susan Collins, Collins, Harker, BoE, China's bourses, Christina Fincher Organizations: Wall, New York Stock Exchange, REUTERS, Federal Reserve, Nvidia, European Central Bank, Philadelphia Fed, Boston Fed, ECB, Bank of, Treasury, Reuters, Authorities, University of Michigan's, Marvell, Reuters Graphics Reuters, Thomson Locations: Manhattan, New York City , New York, U.S, Jackson, Bank of England, Asia, Jackson Hole, Jakarta

☆ European markets climb on easing bond yields, blockbuster Nvidia earnings
▼ + stars: | 2023-08-24 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets climbed on Thursday, tracking counterparts in Asia and the U.S. as a pullback in U.S. bond yields eased global borrowing costs. The European blue chip index closed Wednesday's session up 0.4% even as euro zone purchasing managers' index figures came in well below expectations and services activity slid into decline. Investors are also awaiting comments from U.S. Federal Reserve Chairman Jerome Powell on Friday at the conclusion of the central bank's symposium in Jackson Hole, Wyoming, which Wall Street hopes will offer some insight into the likely path of interest rates. Stocks markets received a lift on Wednesday from falling yields on long-dated U.S. Treasury notes, which lowered borrowing costs. Yields move inversely to prices, and pulled back from a 16-year high notched earlier this week that was fueled by concerns around persistent inflation and the possibility of the Fed and other central banks keeping monetary policy tighter for longer.

Persons: Hong, Jerome Powell Organizations: Nvidia, U.S . Federal, Stocks, Treasury Locations: Asia, U.S, Jackson Hole , Wyoming

☆ Morning Bid: August rescued by Nvidia, bond rally
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +5 min

REUTERS/Brendan McDermid Acquire Licensing RightsA look at the day ahead in U.S. and global markets from Mike DolanA dire August for world markets is being rehabilitated in its final week, helped by another sparkling AI-related surprise from chip giant Nvidia (NVDA.O) and a rebound in battered bond markets. The bar for surprise from Wednesday's earnings update was sky high, but the company somehow managed to vault it again. Despite the rebound the index is still down more than 4% for August - its worst month since last September. Ironically, the retreat in bond yields comes amid signs of cooling economic activity - but that comes with the significant relief that central banks may not have to squeeze any harder to get inflation back close to targets. Bond yields are in retreat in advance of the speech, helped by the easing economic data and a decent 20-year bond auction on Wednesday.

Persons: Brendan McDermid, Mike Dolan, Jerome Powell's, Jackson, China's spluttering, Bernadette Organizations: New York Stock Exchange, REUTERS, Nvidia, Federal Reserve, Fed, Treasury, Woodside Energy, Chicago Fed, Kansas City Fed, Intuit, Ulta, Reuters, Thomson Locations: New York, U.S, Frankfurt, Asia, Shanghai, Europe, Kansas, Jackson

But it was U.S. Treasuries that hogged the limelight once again, with benchmark 10-year yields climbing to 4.366% - their highest level since 2007 and up almost 40 bps month-to-date - before losing some ground to 4.3141%. "There's a more cautiously optimistic mood across financial markets," said Fiona Cincotta, senior markets analyst at City Index in London. At the same time, however, inflation expectations have hardly budged - meaning "real" yields, which discount inflation expectations, have surged - a development likely to prompt investors to re-evaluate taking risks. The 10-year real rate breached 2% late last week. In Europe, benchmark bond yields in Germany, France and Italy eased after Monday's sharp climb , , .

Persons: BOJ's Ueda, Fiona Cincotta, Jackson, Padhraic Garvey, Vishnu Varathan, Kazuo Ueda, Karin Strohecker, Elizabeth Howcroft, Dhara Ranasinghe, Tom Westbrook, Chizu Organizations: REUTERS, Staff, Nvidia, Wall, Index, Federal Reserve, Treasury, ING . Markets, Fed, European Central Bank, Bank of England, Bank of Japan, Mizuho Bank, NVIDIA, Wednesday, Tech, P, Brent, Benchmark, Dalian, Thomson Locations: Frankfurt, Germany, Europe, Asia, U.S, London, Americas, Jackson Hole , Wyoming, Singapore, France, Italy

☆ Morning Bid: Bonds burn on as China rate cut underwhelms
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +4 min

A sign is seen outside the 11 Wall St. entrance of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2021. Although prompted by a deepening property sector bust and worrying economic activity undershoot, China's latest widely expected interest rate cut on Monday was surprisingly small - underscoring concerns that official efforts to shore up the economic malaise are still just piecemeal. The People's Bank of China lowered its one-year lending rate by only 10 basis points to 3.45% - less than the 15bp cut forecast - and it left five-year rates unchanged. UBS became the latest global bank to slash China's annual economic growth forecast for this year - down to 4.8% from 5.2%. Ten-year Treasury yields hovered below last week's highs on Monday, however, and Wall St stock futures were firmer ahead of the open.

Persons: Brendan McDermid, Mike Dolan There's, China's, Xi Jinping, Vladimir Putin, disinflation, Germany's, Crest Nicholson, Mike Dolan, Bernadette Organizations: New York Stock Exchange, REUTERS, People's Bank of, Stock Connect, HK, UBS, Treasury, Federal, Jackson, Wall St, BRICS Summit, Reuters Graphics Reuters, Reuters, Thomson Locations: New York, U.S, China, People's Bank of China, South Africa, Brazil, Russia, India, Ukraine, Wall, Johannesburg

☆ European markets fall further as caution lingers around global stocks
▼ + stars: | 2023-08-18 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets retreated on Friday, tracking cautious global sentiment as traders assess the future for monetary policy and fresh concerns about China's real estate sector. The European blue chip index closed Thursday's session down 0.9% and is on course for a negative week, after the U.S. Federal Reserve's July meeting minutes showed further interest rate hikes were not off the table. European stocks on Friday look set to follow counterparts in Asia-Pacific, where markets fell across the board as investors assessed Japan's July inflation print and embattled Chinese real estate giant Evergrande's U.S. bankruptcy filing. The company sought protection under Chapter 15 of the U.S. bankruptcy code, which shields non-U.S. companies that are undergoing restructuring from creditors. Wednesday's Fed meeting minutes prompted the U.S. 10-year Treasury yield on Thursday to rise to its highest level since October 2022.

Persons: — Organizations: U.S, U.S . Federal, Dow, Wednesday's Fed Locations: U.S ., Asia, Pacific, U.S

☆ Bonds find respite but China crisis festers
▼ + stars: | 2023-08-18 | by ( ) www.reuters.com time to read: +4 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. But equally there was little let-up in the bad news from China's ailing economy and real estate sector. China's securities regulator said on Friday it would cut trading costs, support share buybacks and introduce long-term capital as it unveiled a package of measures aimed at reviving the stock market and boosting investor confidence. Other Asian bourses and European stocks fell too, with U.S. stock futures also in the red before the open. Emerging market equity indices (.MSCIEF) teetered near two-month lows too.

Persons: Brendan McDermid, Mike Dolan, HSI, teetered, Estee Lauder, Joe Biden, Fumio Kishida, Yoon Suk, Elaine Hardcastle Organizations: New York Stock Exchange, REUTERS, Bank of America, Federal, Jackson, China, HK, People's Bank of, U.S, Japan's, Palo Alto Networks, Deere, Treasury, Japan, South, Camp David Reuters Graphics Reuters, Reuters, Reuters Graphics, Thomson Locations: New York City, U.S, China, Treasuries, Beijing, Philadelphia, Shanghai, Hong Kong, People's Bank of China, South Korea

☆ Accelerating US economy sideswipes markets
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +4 min

A sign is seen outside the 11 Wall St. entrance of the New York Stock Exchange (NYSE) in New York, U.S., March 1, 2021. That compares with the official estimates of second-quarter GDP growth at an annualised 2.4% - itself a significant upside surprise - and Wall St forecasters are re-drawing forecasts again. Deutsche Bank on Wednesday, for example, more than doubled its third quarter real GDP call to 3.1%. The implications of such resilience in U.S. activity in the face of more than five percentage points of interest rate rises in 18 months has forced many to rethink the sustainable interest rate level over the horizon and increase long-term projections. After another heavy loss on Wall St indices (.SPX), (.IXIC) on Wednesday, futures regained some ground ahead of the bell today.

Persons: Brendan McDermid, Mike Dolan, Jackson, Christina Fincher Organizations: New York Stock Exchange, REUTERS, Micron Technology, Atlanta Federal, Deutsche Bank, Walmart, Applied, Ross Stores, Philadelphia Fed, Treasury, Housing, Reuters Graphics Reuters, Reuters, Thomson Locations: New York, U.S, Asia, Europe

☆ Bonds bruised, China stocks and rouble sink
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +4 min

With seasonal trading volumes so thin and the events and data diary bare today at least, there's a danger of over-interpreting recent market developments. But the backup in long-term U.S. bond yields over the past couple of weeks despite relatively unchanged expectations for Federal Reserve policy moves has clearly unsettled investors. Although 2-year Treasury yields remain below 5% and are lower than they were at midyear, 10-year Treasury yields continue to probe 9-month highs around 4.20% and the yield curve has disinverted by some 20 basis points this month as a result. China's yuan hit its lowest since June as traders look to a possible easing of 1-year interest rates on Tuesday. Events to watch for on Monday:* U.S. Treasury auctions 3-, 6-month billsReuters GraphicsReuters Graphics Reuters GraphicsReuters GraphicsReuters GraphicsBy Mike Dolan, editing by XXXX <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

Persons: Brendan McDermid, Mike Dolan, Fitch, Goldman Sachs, Russia's Organizations: New York Stock Exchange, REUTERS, Micron Technology, Federal Reserve, United States, AAA, Treasury, . Treasury, Kremlin, Shanghai, Reuters, Thomson Locations: New York, U.S, United, midyear, China, Japan, Ukraine, Hong Kong, Asia

☆ Chinese bourses improve trading mechanism to revive stock market
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A man wearing a mask walks by the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, February 3, 2020. REUTERS/Aly Song/File PhotoHONG KONG, Aug 10 (Reuters) - Shanghai and Shenzhen stock exchanges said late Thursday they would study measures to lower investors' trading costs and improve liquidity to further stimulate the market. They also came after China's securities regulators nudged mutual fund managers to cut fees to reduce trading costs. More specifically, investors trading stocks or listed funds would be allowed to place orders of a minimum of one share, or one unit. Such a change would reduce investors' costs, enable more efficient use of capital, and help improve market liquidity, the bourses said.

Persons: Aly, HONG KONG, bourses, Samuel Shen, Twinnie Siu, Bernadette Baum, Sam Holmes Organizations: Shanghai Stock Exchange, REUTERS, Thomson Locations: Pudong, Shanghai, China, HONG, Shenzhen, Beijing, Hong Kong

☆ European markets climb with inflation, Italian banks in focus
▼ + stars: | 2023-08-09 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

LONDON — European markets advanced on Wednesday, as traders digested China's disinflation and Italy's weakening of a surprise windfall tax on banks. The European blue chip index closed the Tuesday session 0.2% lower, with banks shedding 2.7% after the Italian government announced a surprise windfall tax on excess profits. Shares of Italian banks took a tumble on Tuesday as a result of a tax on net interest income announced on Monday. Citi analysts estimated that the levy represent around 19% of Italian lenders' net profits for the year. A Reuters poll of economists produced a consensus forecast for the July print of 3.3% year-on-year, up from 3% in June.

Persons: Hong Kong, Moody's Organizations: Novo Nordisk, Monday, Citi, Global, U.S, CPI, Federal, ABN Amro, TUI Locations: Stocks, China, Hong, Europe

☆ European markets lower ahead of key inflation prints; Italian banks sink on windfall tax
▼ + stars: | 2023-08-08 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 index slipped 0.3% at the open, with basic resources shedding 1.4% to lead losses as most sectors and major bourses traded in the red. The European blue chip index closed Monday's session up 0.1% as markets appeared to enter suspended animation after last week's global pullback, as investors took profits near the end of earnings season and risk sentiment returned to focus. A Reuters poll of economists produced a consensus forecast for the July print of 3.3% year on year, up from 3% in June. Roughly 85% of S&P 500 stocks have reported quarterly results, and nearly 80% of them have beaten Wall Street's expectations, according to FactSet. Back in Europe, Deutsche Wohnen , Porsche , Bayer, ABRDN and Glencore all report Tuesday.

Organizations: Federal, Deutsche Wohnen, Porsche, Bayer, ABRDN Locations: China, United States, Beijing, The U.S, Asia, Pacific, Europe

The German share price index DAX graph is pictured at the Frankfurt stock exchange in Frankfurt, Germany, March 17, 2023. The pan-European STOXX 600 (.STOXX) closed up 0.1% ahead of inflation readings from Germany, China and the U.S. later this week, all likely to drive expectations on how long interest rates could remain high. Europe's aerospace and defence index (.SXPARO) hit a record high, rising 1.0%, with Italy's Leonardo (LDOF.MI) and London-listed Melrose (MRON.L) up 3.1% and 2.6% respectively. Major European bourses were mixed, with London's commodity-heavy FTSE 100 down 0.1%, while France's blue-chip CAC 40 index (.FCHI) rose 0.1%. Pressuring Germany's DAX (.GDAXI), Siemens Energy (ENR1n.DE) dropped 6.1%, having shuttled between gains and losses throughout the day.

Persons: Daniela Hathorn, Italy's Leonardo, Anthi Tsouvali, Germany's DAX, Shashwat Chauhan, Sruthi Shankar, Amruta, Varun, Alex Richardson Organizations: REUTERS, Staff, Defence, Siemens Energy, U.S, Aurubis AG, Capital.com, Bavarian, Melrose, State Street Global Markets, Thomson Locations: Frankfurt, Germany, China, Danish, London, U.S, Bengaluru

☆ CNBC Daily Open: Financial markets aren’t the economy
▼ + stars: | 2023-08-07 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. JPMorgan Chase no longer thinks the U.S. economy will slip into a recession this year. "Given this growth, we doubt the economy will … slip into a mild contraction as early as next quarter," wrote Feroli. CNBC Pro's Sarah Min explains how the Federal Reserve might react, depending on what the price numbers look like.

Persons: nonfarm payrolls, That's, Dow Jones, JPMorgan Chase, Michael Feroli, Sarah Min Organizations: CNBC, Federal, U.S, Nasdaq, Credit Agricole, Maersk, JPMorgan, Apple Locations: Manhattan, New York City, U.S, Cupertino

A panel displaying share prices is seen inside the Shenzhen Stock Exchange in the southern Chinese city of Shenzhen October 23, 2009. The Shenzhen Stock Exchange, one of the two major bourses in the Chinese mainland, is in negotiations with the Saudi Tadawul Group (1111.SE), operator of the Saudi Stock Exchange, for ETF Connect, as the programme is called, two of the sources said. The China Securities Regulatory Commission, the Shenzhen Stock Exchange and the Tadawul Group did not respond to Reuters' requests for comment. China has launched 'ETF Connect' projects in recent years with offshore stock exchanges in Hong Kong, Japan, South Korea, and Singapore. Reporting by Xie Yu and Selena Li in Hong Kong; Additional reporting by Hadeel Al Sayegh in Dubai; Editing by Sumeet Chatterjee and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Bobby Yip, HONG KONG, HKEX, Jackie Choy, Xie Yu, Selena Li, Hadeel Al, Sumeet Chatterjee, Muralikumar Organizations: Shenzhen Stock Exchange, REUTERS, Saudi Tadawul Group, Saudi Stock Exchange, Connect, China's, China Securities Regulatory Commission, Tadawul, Singapore . Industry, Government Bond Index, Management, Saudi, Hong Kong Exchanges, Clearing, Tadawul Group, Hong Kong bourse, Morningstar Asia, Saudi Arabia's Ministry of Investment, Saudi Aramco, Thomson Locations: Shenzhen, HONG, China, Saudi, Beijing, Riyadh, Saudi Arabia, East Asia, Hong Kong, Japan, South Korea, Singapore, HK, Hong, Europe, East, Africa, Hadeel Al Sayegh, Dubai

☆ CNBC Daily Open: Don’t worry about the Fitch-induced sell-off
▼ + stars: | 2023-08-03 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on August 02, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. [PRO] Value picks in the S&P 500A common complaint about the S&P 500 now is that it's too expensive. But there are still pockets of value in the index, CNBC Pro's Bob Pisani says.

Persons: Stocks, Larry Summers, Mohamed El, Erian, Jamie Dimon, Dow Jones, Bob Pisani Organizations: New York Stock Exchange, CNBC, U.S, Nasdaq, Mining, Fitch, Global, Former U.S, Allianz, JPMorgan Chase, Labor Department, Qualcomm Locations: New York City

☆ U.S. debt downgrade sinks global markets — but economists are not concerned
▼ + stars: | 2023-08-02 | by ( Elliot Smith | ) www.cnbc.com time to read: +4 min

Global stock markets tumbled on Wednesday after ratings agency Fitch downgraded the United States' long-term credit rating — but top economists say there is nothing to worry about. U.S. stock futures were sharply lower after the downgrade, pointing to a fall of almost 300 points for the Dow Jones Industrial Average at the Wednesday open on Wall Street. Current Treasury Secretary Janet Yellen described the downgrade as "outdated." Phillips said the downgrade "should have little direct impact on financial markets as it is unlikely there are major holders of Treasury securities who would be forced to sell based on the ratings change." Harvey noted that, ahead of the 2011 S&P downgrade, stocks were in correction territory, credit spreads were widening, rates were falling, and the global financial crisis "was still in the market's collective conscience" — whereas the conditions today are "almost the opposite."

Persons: Fitch, Larry Summers, Mohamed El, Erian, Summers, Janet Yellen, Goldman Sachs, Alec Phillips, Phillips, Wells, Chris Harvey, Harvey, Mark Mobius, they've, CNBC's Organizations: United, AAA, Dow Jones, U.S ., Allianz Chief, Treasury, Wells Fargo Securities Head, Equity, CNBC, ., Mobius Capital Partners Locations: United States, London, Asia, Pacific, Wells Fargo, U.S

☆ CNBC Daily Open: Market bears refuse to concede
▼ + stars: | 2023-08-02 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange (NYSE) on July 26, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The slightly tighter labor market, in combination with companies holding on to workers, reinforce the possibility of cooling inflation without a recession. Securities, actuallyCryptocurrencies are considered securities regardless of how they are sold, U.S. District Judge Jed Rakoff said on Monday.

Persons: Dow, Donald Trump, Joe Biden, That's, Jed Rakoff, JPMorgan Chase Organizations: New York Stock Exchange, CNBC, Dow Jones, Labor Department, Trump Former U.S, Trump, Securities, Securities and Exchange Commission, Terraform Labs, JPMorgan, Nvidia, Microsoft Locations: New York City, U.S

LONDON, Aug 2 (Reuters) - The economic picture may not have to change much for the surprise element to disappear for markets - underlining the significance of this summer's sometimes grudging admissions of investment strategy missteps. SURPRISE, SURPRISEExceptional U.S. economic surprisesU.S. surprise gaps the widest in decades, excluding pandemicAlong with market moves themselves and skewed positioning monitors, the simplest take on the unpreparedness of investors can be seen in economic surprise indices. The global surprise index is close to zero, suggesting expectations for the world economy in aggregate are actually coming in on cue. And if that happens, it may just suck the oxygen from the stellar equity outperformance over bonds to date. If true, markets may find the going harder without that element of surprise.

Persons: What's, Schroders, Johanna Kyrklund, hasn't, Kyrklund, Chris Iggo, Mike Dolan Organizations: Federal, Nasdaq, Japan's Nikkei, U.S, Graphics, AXA IM Investment, Reuters, Twitter, Thomson Locations: Europe, Japan, China, U.S

☆ European markets open lower ahead of slew of earnings
▼ + stars: | 2023-08-01 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European markets opened lower on Tuesday as investors look ahead to a busy week of earnings after logging a winning month in July. The Stoxx 600 opened down 0.1%, with all major bourses and the majority of sectors trading in negative territory. Stateside, U.S. futures traded near the flatline after wrapping up a winning earnings month. Back in Europe, earnings are due from Euroapi, Uniper, Daimler Truck, DHL Deutsche Post, Covestro, BP, HSBC, Travis Perkins and Diageo. Euro zone unemployment data will also be posted.

Persons: Dow, Travis Perkins Organizations: P Global, Nasdaq, Daimler Truck, DHL Deutsche Post, BP, HSBC, Diageo Locations: Asia, Pacific, Europe, Euroapi, Covestro

☆ Europe markets open lower as investors look to euro zone inflation data
▼ + stars: | 2023-07-31 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

LONDON — European markets were lower Monday as investors digest a heavy week of earnings and look ahead to euro zone inflation data and a key policy decision from the Bank of England. Food and beverage stocks were 0.9% lower in early deals, while oil and gas stocks were up 0.3%. Preliminary euro zone inflation data will be released at 11:00 a.m. CET, with a further fall from June's 5.5% expected to provide some relief for policymakers. The European Central Bank's Christine Lagarde signaled last week that the bank was "open minded" about whether it would raise rates in September as inflation shows signs of easing. The move would mark its 14th consecutive rise as U.K. inflation remains high, having fallen only slightly to 7.9% in June.

Persons: Christine Lagarde, France's Legrand, Pearson Organizations: Bank of England, Bank of Japan, Nikkei, Nasdaq, Heineken Locations: June's, Asia, Pacific, Europe, Netherlands

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