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☆ Oil prices head for weekly gain on China growth hopes
▼ + stars: | 2023-03-03 | by ( Sudarshan Varadhan | ) www.reuters.com time to read: +1 min

Brent crude futures fell 39 cents, or 0.5%, to $84.36 a barrel at 0147 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 41 cents, or 0.5%, at $77.75 a barrel%. Manufacturing activity in China grew last month at the fastest pace in more than a decade, reinforcing expectations of a fuel decmand recovery. Comments by Atlanta Federal Reserve President Raphael Bostic that the Fed should stick with "steady" quarter-point rate eased concerns in the U.S., and helped support oil prices on Thursday even after strong unemployment data. A 10th consecutive week of crude stock builds (USOILC=ECI) in the United States also weighed on the market this week.

☆ Oil rises on China growth hopes
▼ + stars: | 2023-02-28 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

Brent crude futures for April , due to expire on Tuesday, were up by 87 cents, or 1.1%, to $83.32 per barrel by 1059 GMT. U.S. West Texas Intermediate (WTI) crude futures gained $1.18, or 1.6%, to $76.89 a barrel. JPMorgan's oil analysts maintained their 2023 average price forecast on Brent crude futures at $90 per barrel. The market will be looking to the latest U.S. oil stocks data due from the American Petroleum Institute industry group on Tuesday and the government's Energy Information Administration on Wednesday for further demand indicators. Distillate inventories, which include diesel and heating oil, were expected to have decreased by about 500,000 barrels last week.

Brent crude futures for April , due to expire on Tuesday, were up by 39 cents to $82.84 per barrel by 0718 GMT. Likewise, U.S. West Texas Intermediate (WTI) crude futures gained 61 cents to $76.29 a barrel. Brent and WTI futures were both on track, however, for monthly losses of around 2.2% and 3.8% respectively, with WTI likely to hit a four-month streak of declines. JPMorgan's oil analysts maintained their 2023 average price forecast on Brent crude futures at $90 per barrel. Seven analysts polled also estimated that gasoline stocks rose by about 700,000 barrels.

Brent crude futures for April , due to expire on Tuesday, gained 14 cents to $82.59 per barrel by 0443 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 21 cents to $75.89 a barrel. Brent and WTI futures were both on track for monthly losses of around 2.2% and 3.8% respectively, with WTI likely to hit a four-month streak of declines. JPMorgan's oil analysts maintained their 2023 average price forecast on Brent crude futures at $90 per barrel. A preliminary Reuters poll showed analysts expected crude stocks grew by 400,000 barrels in the week to Feb. 24, which would mark the tenth consecutive week of builds.

☆ Oil rebounds almost 2% on China growth hopes
▼ + stars: | 2023-02-28 | by ( ) www.cnbc.com time to read: +3 min

Oil prices rose nearly 2% on Tuesday, erasing the previous session's losses, as hopes for a strong economic rebound in China offset worries about U.S. interest rate hikes dragging down consumption in the world's biggest economy. Expectations of demand recovery in China underpinned gains, with the market awaiting key data over the next two days. "China's economic recovery will drive its demand for commodities higher, with oil positioned to benefit the most," JPMorgan analysts said in a client note. Similarly, JPMorgan's oil analysts maintained their 2023 average price forecast on Brent at $90 a barrel. Meanwhile in the U.S., crude production fell in December to 12.10 million bpd, its lowest since August 2022, Energy Information Administration (EIA) data showed.

☆ China's going to see a better 2023, says China Beige Book CEO
▼ + stars: | 2023-02-23 | 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 EmailChina's going to see a better 2023, says China Beige Book CEOLeland Miller, China Beige Book CEO, joins 'Squawk on the Street' to discuss his thoughts on China growth patterns and China's reopening.

☆ Trade tensions seen hanging over U.S. firms' caution over China
▼ + stars: | 2023-02-20 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

U.S. and European multinational firms are getting more cautious about their capital investments in China due to geopolitical concerns, according to a risk consultancy. Richard Martin, managing director of IMA Asia, said the ongoing U.S. trade tensions with China is the main reason for the investment caution shown by American companies. As for European firms, Martin noted, its Russia's invasion of Ukraine that has led to concerns over Beijing. Even at 3% or 4% growth, China will add more dollar value in the next five years than the United States. "Even at 3% or 4% growth, China will add more dollar value in the next five years than the United States.

☆ Goldman Sachs: China's reopening economy is gaining momentum, and these 50 stocks are best positioned to benefit from the robust rally
▼ + stars: | 2023-01-26 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Goldman Sachs recently boosted economic growth estimates for both China and Europe. Since November, the SSE Composite Index (in dark blue) and the STOXX Europe 600 (in purple) have beaten the S&P 500 (in light blue). That led Goldman Sachs to boost its 2023 GDP estimate for the nation from 4.5% to 5.5%, driven by an 8.5% increase in inflation-adjusted consumption. Robust growth in China now means that Europe will avoid a recession this winter, according to Goldman Sachs. But Chinese stocks won't be the only ones to benefit from the nation's economic boom.

☆ IMF chief: Growth will bottom out in 2023 and bounce back next year
▼ + stars: | 2023-01-17 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +2 min

Managing Director of International Monetary Fund IMF Kristalina Georgieva attends a session during the World Economic Forum WEF 2022 Annual Meeting in Davos, Switzerland, May 25, 2022. The International Monetary Fund's Managing Director Kristalina Georgieva told CNBC Tuesday that the days of her institution giving regular global growth downgrades are nearly over. "I don't see a downgrade now, but growth in 2023 will slow down," Georgieva said at the World Economic Forum in Davos, Switzerland. The International Monetary Fund has downgraded its growth forecast three times since October 2021. "The China growth rates are not going to return to the days when China delivered about 40% of global growth, this is not going to happen," Georgieva said, with the country having experienced below-average growth for the first time in 40 years in 2022.

☆ As China reopens and data surprises, economists are starting to get less gloomy
▼ + stars: | 2023-01-16 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

The European Central Bank is expected to continue raising rates aggressively in the short-term as the euro zone economy proves more resilient than anticipated. Haussmann Visuals | Moment | Getty ImagesAfter China's reopening and a deluge of positive data surprises in recent weeks, economists are upgrading their previously gloomy outlooks for the global economy. Berenberg also upgraded its euro zone forecast in light of recent news flow, particularly falling gas prices, a consumer confidence recovery and a modest improvement in business expectations. watch now"As Germany is more exposed to gas risks than the euro zone as a whole, it suggests that the euro zone likely did not fare (much) worse than Germany late last year and may thus have avoided a significant contraction in Q4 GDP," Schmieding said. Berenberg therefore raised its calls for the annual average change to real GDP in 2023 from a 0.2% shrinkage to 0.3% growth.

☆ Take profits on Starbucks after its huge run, and check out these 3 other stocks
▼ + stars: | 2023-01-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

Our answer is yes, we would make a very small trim — 50 shares of our 750 share position in Starbucks (SBUX) — if we were not restricted from trading. This speculation hit the stock hard that day because China is a huge growth opportunity for the coffee retailer. SBUX 1Y mountain Starbucks (SBUX) 1-year performance There is a lot to be bullish about in Starbucks' future, but a lot of that good news is starting to get priced in. Following Thursday's positive session for stocks, the market pushed even deeper into overbought territory, according to the S & P Oscillator . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ China growth seen rebounding to 4.9% in 2023, more stimulus on the cards: Reuters poll
▼ + stars: | 2023-01-12 | by ( Kevin Yao | ) www.reuters.com time to read: +4 min

"We expect economic activities and consumption to rebound strongly from March-April onwards, helped by post-COVID re-opening and release of excess savings," Tao Wang, chief China economist at UBS, said in a research note. Reuters GraphicsThe expected 2022 growth rate would be far below the official target of around of 5.5%. China is likely to aim for economic growth of at least 5% in 2023 to keep a lid on unemployment, policy sources said. "Economic policy would turn more supportive in 2023. Consumer inflation will likely quicken to 2.3% in 2023 from 2.0% in 2022, before steadying in 2024, the poll showed.

☆ Beijing braces for surge in severe COVID cases as world watches with concern
▼ + stars: | 2022-12-21 | by ( Bernard Orr | ) www.reuters.com time to read: +5 min

[1/4] People wearing face masks commute in a subway station during morning rush hour, following the coronavirus disease ( COVID-19) outbreak, in Beijing, China January 20, 2021. China, which uses a narrow definition of what can be classified as COVID fatalities, reported no new COVID deaths for Dec. 20, compared with five the previous day. Severe cases rose by 53 across China on Tuesday, versus an increase of 23 the previous day. China does not provide absolute figures of severe cases. Blood clots, heart problems and sepsis - an extreme body response to infection - have caused countless deaths among COVID patients around the world.

☆ World Bank cuts China growth outlook on COVID, property woes
▼ + stars: | 2022-12-20 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Dec 20 (Reuters) - The World Bank has cut its China growth outlook for this year and next, citing the impact of the abrupt loosening of strict COVID-19 containment measures and persistent property sector weakness. The bank's expected expansion for 2022 would be well below the official target of around 5.5%. In September, the World Bank forecast China's growth at 2.8% this year and 4.5% next year. "China's growth outlook is subject to significant risks, stemming from the uncertain trajectory of the pandemic, of how policies evolve in response to the COVID-19 situation, and the behavioral responses of households and businesses," the bank said in its report. China also faces highly uncertain global growth prospects and heightened geopolitical tension, the lender said.

☆ Analysis: Global economy bets on China learning to live with COVID
▼ + stars: | 2022-12-20 | by ( Mark John | ) www.reuters.com time to read: +4 min

Bank of Japan Governor Haruhiko Kuroda cited the resurgence of virus cases in China as putting downward pressure on the global economy, while Taiwan listed the spread of COVID-19 in China as one big uncertainty facing its economy. But equally, those inflationary pressures could be cancelled out if China's woes led to softer global demand for commodities. The New York Fed's Global Supply Chain Pressure Index, launched about a year ago, already edged higher in October and November in a moderate reversal of a persistent loosening of global supply bottlenecks seen through most of 2022. Much will depend on the policy response of Chinese leaders who have pledged to support the slowing economy and to cushion the impact of rising COVID-19 infections. The World Bank now sees China's economy growing 2.7% this year and 4.3% in 2023, somewhat slower than its September forecasts of 2.8% and 4.5%, respectively.

☆ Chinese consumers wary of splurging after Beijing relaxes COVID strictures
▼ + stars: | 2022-12-11 | by ( Casey Hall | ) www.reuters.com time to read: +5 min

"On the other hand, we don't know who is safe, we don't know who has the coronavirus. "Moving from isolation facility quarantine to home quarantine will not increase retail sales significantly," said Iris Pang, chief economist for greater China at ING. A spa at a mall in downtown Beijing that resumed business on Friday said most staff had returned but customers were far fewer. Luca Solca, a luxury analyst with Bernstein, said the end of the curbs was good news for the luxury industry, heavily dependent on Chinese spending. "My base-case scenario is that the softening should prompt Chinese consumers to go back to enjoying life and spending money – benefiting, among others, top luxury brands," he said.

Some economists have lowered growth forecasts for early next year for the world's second-largest economy, continuing the grim growth numbers this year that were among the worst of the past half-century. "Compared with other developed countries, medical resources in China are somewhat insufficient," said Nie Wen, a Shanghai-based economist at Hwabao Trust, who has cut his China growth forecast for the first quarter to 3.5%-4% from 5% previously. INFLATION SURGEWith China likely facing waves of COVID infections after the relaxations, the benefits of reopening are expected to arrive with a significant delay. "Given the accelerated reopening timeline, we believe growth may stay subpar near term," Morgan Stanley said after the announcement of the latest easing measures. Lurking among the prospects for China's reopening, however, is a potential surge in inflation, which could hit the global economy as well as China itself.

☆ Covid protests escalate in Guangzhou as China lockdown anger boils
▼ + stars: | 2022-11-30 | by ( ) www.nbcnews.com time to read: +6 min

TwitterSocial media posts said the clashes took place on Tuesday night and were caused by a dispute over lockdown curbs. China Dissent Monitor, run by U.S. government-funded Freedom House, estimated at least 27 demonstrations took place across China from Saturday to Monday. In Zhengzhou, the site of a big Foxconn factory making Apple iPhones that has been the scene of worker unrest over Covid, officials announced the “orderly” resumption of businesses, including supermarkets, gyms and restaurants. Data on Wednesday showed China’s manufacturing and services activity for November posting the lowest readings since Shanghai’s two-month lockdown began in April. Chinese stocks were steady, with markets weighing endemic economic weakness against hopes that the public pressure could push China to eventually reopen.

☆ Global investors are bullish again on China as Beijing switches to damage control
▼ + stars: | 2022-11-17 | by ( Laura He | ) edition.cnn.com time to read: +6 min

A key index of Chinese stocks in New York jumped 15% during the same period. Some investment banks even upgraded their China growth forecasts following the policy changes. They want to correct the market’s perception of China’s economic outlook, as President Xi Jinping interacts with global leaders at G20,” it said. “I don’t think the long-term appetite for China and Hong Kong shares will return so quickly. The Nasdaq Golden China Index, a popular index tracking Chinese companies in New York, has plunged more than 33% so far in 2022.

☆ Morning Bid: Detente and dollars
▼ + stars: | 2022-11-15 | by ( Nupur Anand | ) www.reuters.com time to read: +4 min

A look at the day ahead in U.S. and global markets from Mike Dolan. As investors closely monitor shifting economic sands, signs of some easing of this year's tense geopolitics adds a tailwind to the yearend market bounce. The dollar's ongoing retreat, amid hopes of a downshift in U.S. interest rate rises next month that Federal Reserve Vice Chair Lael Brainard encouraged late Monday, also riffs off a defusing of at least some extreme political risks. JPMorgan cut its full-year 2022 China growth forecast to 2.9% from 3.1% previously and its 2023 forecast to 4% from 4.5%. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

"The latest round of China reopening hopes have helped drive us higher here again," he told clients. Any change to that scenario may be a positive impulse for cyclical stocks, it said, but it adds to the inflation headache for central banks. "The somewhat negative implication of stronger China growth is that it would likely add to global inflationary pressure. "We suspect Chinese re-opening (will) imply upside risks to commodity prices and global rates." But even with a G20 summit due next week, global cooperation has been in short supply in fractious 2022.

☆ Major banks are bullish on Hong Kong's economy and China growth prospects
▼ + stars: | 2022-11-02 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +3 min

"Hong Kong business is as strong as it has ever been," said StanChart's CEO Bill Winters. I have every confidence Hong Kong will rebound strongly next year. People walk through Exchange Square in Hong Kong on October 28, 2022. Major lenders Standard Chartered and HSBC expressed confidence in the rebound of Hong Kong's and China's economy, even as China ramps up its Covid measures and Hong Kong's economy posted its worst quarter in more than two years. Eventually China will start to open up and the economy will rebound strongly," Quinn told CNBC.

☆ Take Five: It's rate hike central
▼ + stars: | 2022-10-31 | by ( ) www.reuters.com time to read: +5 min

LONDON, Oct 28 (Reuters) - It's rate hike central with monetary policy meetings in the United States, Britain, Australia and Norway in the week ahead. Graphics by Vincent Flasseur and Sumanta Sen.1/ FOUR IN A ROWA fourth straight jumbo 75-basis point (bps) interest rate hike is widely expected when the Federal Reserve meets on Nov 1-2. Fed chair Jerome Powell has come under political pressure to be careful of putting U.S. jobs at risk by tightening policy too much. Inflation in the bloc hit 10.7%, accelerating from 9.9% last month and dashing hopes that peak inflation could be near. The European Central Bank just delivered its second 75 bps rate increase to control price pressures.

☆ Take Five: It's rate-hike central
▼ + stars: | 2022-10-28 | by ( ) www.reuters.com time to read: +4 min

LONDON, Oct 28 (Reuters) - It's rate-hike central with monetary policy meetings in the United States, Britain, Australia and Norway in the week ahead. Fed chair Jerome Powell has come under political pressure to be careful of putting U.S. jobs at risk by tightening policy too much. A consequential week for markets also includes Friday's October U.S. payrolls report, with economists polled by Reuters forecasting the economy created 200,000 new jobs. Inflation in the bloc is running at almost 10% and the European Central Bank just delivered its second 75 bps rate increase to control price pressures. Like other big central banks, the ECB is hoping for signs that peak inflation is coming.

☆ The sell-off in Chinese stocks is 'disconnected from fundamentals' and presents an opportunity to investors, JPMorgan's Marko Kolanovic says
▼ + stars: | 2022-10-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

JPMorgan's Marko Kolanovic called the Chinese sell-off "disconnected from fundamentals." "We believe this is a good opportunity to add given an expected growth recovery," he said. But JPMorgan chief global markets strategist Marko Kolanovic is unfazed by Monday's decline, calling the sell-off "disconnected from fundamentals" and a buying opportunity for investors in a Monday note. He is ultimately betting that the Chinese economy will experience a recovery in growth as the COVID-19 pandemic begins to fade. We believe this is a good opportunity to add given an expected growth recovery, gradual COVID reopening, and monetary and fiscal stimulus," he said.

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