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Total refinery throughput in the world's second-largest oil consumer was 63.13 million metric tons last month, data from the National Bureau of Statistics (NBS) showed. Production was up slightly from the 14.83 million bpd of oil processed in June. Domestic fuel demand has picked up with the arrival of the summer travel season, notably in gasoline and jet fuel. China's crude oil imports in July pared back from close-to-record levels during the previous month, totalling 43.7 million metric tons, or 10.3 million bpd, according to the customs data. The NBS data on Tuesday also showed China's domestic crude oil production in July was 17.31 million metric tons, or 4.1 million bpd, versus 17.13 million metric tons in 2022.

Persons: Dominique Patton, refiners, Production, Andrew Hayley, Jacqueline Wong Organizations: Shandong Haiyou Petrochemical Group, REUTERS, National Bureau of Statistics, Reuters, Zhuochuang, Thomson Locations: Shandong, county, Shandong province, China, BEIJING

☆ Strong US retail sales underscore economy's resilience
▼ + stars: | 2023-08-15 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

SummaryCompanies Retail sales increase 0.7% in July; June sales revised upCore retail sales jump 1.0%; June sales revised downImport prices rebound 0.4%; down 4.4% year-on-yearWASHINGTON, Aug 15 (Reuters) - U.S. retail sales increased more than expected in July as Americans boosted online purchases and dined out more, suggesting the economy continued to expand early in the third quarter and keeping a recession at bay. Retail sales jumped 0.7% last month. Sales at food services and drinking places, the only services category in the retail sales report, shot up 1.4% after rising 0.8% in June. Excluding automobiles, gasoline, building materials and food services, retail sales surged 1.0% in July. Data for June was revised lower to show these so-called core retail sales increasing 0.5% instead of the previously reported 0.6%.

Persons: Goldman Sachs, Andrew Hunter, David Russell, Matthew Martin, Ben Ayers, Lucia Mutikani, Paul Simao Organizations: Commerce Department, Capital Economics, Retail, Reuters, Consumers, Market Intelligence, Wall, Treasury, Labor Department, Oxford Economics, delinquencies, New York Fed, Nationwide, Thomson Locations: WASHINGTON, U.S, New York, Columbus , Ohio

☆ China c.bank seen leaving policy loan rate unchanged on Tuesday
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +3 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 PhotoSHANGHAI/SINGAPORE, Aug 14 (Reuters) - China's central bank is expected to keep rates on its medium-term policy loans unchanged on Tuesday, a Reuters survey showed, despite fresh signs the economic recovery is losing momentum. The People's Bank of China (PBOC) last lowered the rate by 10 basis points to 2.65% in June. "We believe more pro-growth policies are warranted to support the economic growth, and further easing in monetary policy can be expected," analysts at BofA Global Research said. They expect a 15-basis-point cut in one-year loan prime rate (LPR) in total in the third quarter of the year.

Persons: Tingshu Wang, Li Hongwei, Zhou, Tom Westbrook, Jacqueline Wong Organizations: People's Bank of China, REUTERS, HSBC, BofA Global Research, July's, Thomson Locations: Beijing, China, SHANGHAI, SINGAPORE, United States, Shanghai, Singapore

☆ Treasury yields are little changed as investors consider economic outlook
▼ + stars: | 2023-08-14 | by ( Sophie Kiderlin | In | ) www.cnbc.com time to read: +1 min

ET, the yield on the 10-year Treasury inched up by less than 1 basis point to 4.172%. The 2-year Treasury yield was trading up more than 3 basis point higher at 4.931%. U.S. Treasury yields were little changed Monday as investors digested the latest inflation data and looked ahead to key economic reports due throughout the week. Friday's producer price index for July had come in at 0.3% on a monthly basis, slightly higher than the 0.2% economists previously surveyed by Dow Jones had expected. Investors have been looking to inflation data for clues about whether the Fed will announce further interest rate increases or pause, or even end, its rate-hiking campaign.

Persons: Treasury inched, Dow Jones Organizations: Treasury, U.S, Investors, Federal Reserve, Fed

☆ CNBC Daily Open: There’s a new narrative in markets
▼ + stars: | 2023-08-14 | 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. Losing week for stocksU.S. stocks were mixed Friday, with the Dow Jones Industrial Average the only major index to eke out a gain. On a year-over-year basis, the producer price index was up 0.8%. The PPI tends to reflect price changes before they filter into the consumer price index, so this could dampen the enthusiasm over July's cooler-than-expected CPI.

Persons: Europe's, That's, SBF FTX, Sam Bankman, Fried, Coraline Ellison, Leswing, Kate Spade, They'll Organizations: CNBC, Dow Jones, SBF, New York Times, Nvidia, TJX Locations: U.S

☆ Take Five: Are we there yet?
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +6 min

China retail sales data due on Tuesday will show whether spending can cling to the around-3% growth rate in June - a far cry from the double-digit readings earlier in the year. Meanwhile, investors will get another look at the health of the U.S. consumer with Tuesday’s retail sales report. June retail sales, released last month, rose less than expected, but nonetheless showed consumers weathered higher interest rates. Chart shows change in U.S. retail sales on a monthly basis. After shooting to a nine-year peak of 6.55% - prompting the central bank to step in to restore calm - yields have settled around 0.58%.

Persons: Kevin Buckland, Ira Iosebashvili, Naomi Rovnick, Karin Strohecker, Amanda Cooper, Christine Lagarde, there's, BoE, Morgan Stanley, Sharon Singleton Organizations: PMI, Reuters Graphics Reuters, European Central Bank, Reuters, Bank of, BOE, Bank of England, Citi, Confederation, Thomson Locations: West, Britain, U.S, Tokyo, New York, London, China, Jackson Hole , Wyoming

☆ What’s Going On With Inflation? Unpacking the Latest CPI Report
▼ + stars: | 2023-08-11 | by ( Dion Rabouin | ) www.wsj.com time to read: 1 min

Will the Fed Raise Rates Again? Explaining July's FOMC Meeting Investors are betting that the Fed has raised interest rates for the last time this year, but what matters is what Fed Chair Jerome Powell says. We break down the latest FOMC statement and Powell’s news conference to explain what’s next for markets. Photo: Sarah Silbiger

Persons: Will, Jerome Powell, what’s, Sarah Silbiger

☆ European markets open lower; UBS ends Credit Suisse protection measures, shares up 4%
▼ + stars: | 2023-08-11 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: +1 min

The pan-European Stoxx 600 index was down 0.5% in the first minutes of trading, with all sectors opening in negative territory. Mining stocks led losses with a 1% downturn, followed by oil and gas and autos, which both dropped 0.9%. UBS announced Friday it ended a 9 billion Swiss franc ($10.27 billion) loss protection agreement and a 100 billion Swiss franc public liquidity backstop originally put in place by the Swiss government when the bank took over rival bank Credit Suisse in March. The pan-European Stoxx 600 index ended the previous session up 0.8%, with household goods adding 2.2% to lead gains on the back of strong earnings. Mining stocks slid 0.9%.

Organizations: Bureau of Labor Statistics, UBS, Credit Suisse, Mining Locations: U.S, Swiss, Asia, Pacific

☆ July's PPI report is not confirming what we saw with CPI, says Morningstar's Marta Norton
▼ + stars: | 2023-08-11 | 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 EmailJuly's PPI report is not confirming what we saw with CPI, says Morningstar's Marta NortonMarta Norton, Morningstar Wealth CIO for the Americas, joins 'Squawk Box' to discuss July's PPI report, the impact on the Fed's inflation fight, latest market trends, and more.

Persons: Morningstar's Marta Norton Marta Norton Organizations: PPI, CPI, Morningstar

☆ CNBC Daily Open: Chilling effect
▼ + stars: | 2023-08-11 | by ( Clement Tan | ) 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 reacted favorably, expecting July's tame inflation reading to mean no more interest rate hikes from the Federal Reserve. U.S. stocks pare early gainsThe Dow Jones Industrial Average edged higher Thursday, helped by a post-earnings Disney rally and a key inflation reading showing slightly less year-over-year inflation growth than expected. In the last quarter, the Chinese tech giant also recorded its biggest annual increase in sales since the September 2021 quarter.

Persons: Dow Jones, pare, Alibaba Organizations: CNBC, of Labor Statistics, Federal Reserve, Dow Jones, Disney, Nasdaq, Semiconductor Manufacturing International Corp, Nvidia, Investors Locations: United States, China, U.S, Ukraine, Ukrainian, Russia

☆ Retailers take center stage in the week ahead, as Wall Street turns to the consumer for a much-needed boost
▼ + stars: | 2023-08-11 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

A raft of economic data and big retail earnings reports next week will give traders insight into the strength of the consumer after a mixed batch of inflation data. "Next week is all about the consumer," said Shannon Saccocia, investment chief at NB Private Wealth. The Nasdaq Composite fell for a second straight week for the first time in 2023 after mixed inflation data this week, as well as Moody's downgrading several regional banks. July's consumer price index came in weaker than expected, but continued to show some underlying stickiness. Housing data expected to show strength Investors will also watch data on what has been a strong housing market.

Persons: Shannon Saccocia, Saccocia, —, we've, John Porter, it's, Wealth's Saccocia, Kate Spade, Stuart Weitzman, Versace, Jimmy Choo, Michael Kors, That's, Sam Stovall, Stovall, CFRA's Stovall, Estee Organizations: Home Depot, Walmart, Federal Reserve, Nasdaq, Dow Jones, Newton Investment Management, FactSet, . Discount, TJX Companies, Ross, Homeowners, Price, Retail, Health, Home, Agilent Technologies, Housing, Manufacturing, TJX, Target, Cisco Systems, Philadelphia Fed, Applied, Deere, Co, Companies, Palo Alto Locations: U.S, NAHB, Housing States

☆ CNBC Daily Open: Is China a no-go for U.S. investment?
▼ + stars: | 2023-08-11 | by ( Clement Tan | ) www.cnbc.com time to read: +3 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. Almost all of the monthly inflation increase came from shelter costs, which rose 0.4% and were up 7.7% from a year ago. Markets reacted favorably, expecting July's tame inflation reading to mean no more interest rate hikes from the Federal Reserve. Investors may want to consider using the recent weakness in chipmaker Nvidia to snatch up shares of the artificial intelligence darling, some Wall Street analysts are saying.

Persons: Dow Jones, Hong, Joe Biden, Biden, they're Organizations: CNBC, of Labor Statistics, Federal Reserve, Dow, Nasdaq, U.S, Wednesday, Oceanic, Atmospheric Administration, Nvidia, Investors Locations: United States, China, U.S, Japan, Hawaii, Maui

If housing cost pressures start to ease more in the coming months, as many economists expect, then the Federal Reserve is almost certainly done. Headline annual consumer price inflation rose a little less than expected last month to 3.2%, and annual core inflation cooled slightly to 4.7%, as forecast. Reuters ImageReuters ImageShelter inflation is running at a 7.7% annual rate and has been far stickier than policymakers would have liked. But Parsons reckons lag effects will soon be bringing shelter inflation down more quickly. Reuters ImageReuters ImageReuters Image(The opinions expressed here are those of the author, a columnist for Reuters)Reporting by Jamie McGeever; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome Powell, Brendan McDermid, Jay Parsons, Parsons, Jerome Powell's, Phil Suttle, Julia Coronado, Andreas Steno Larsen, Powell, Jamie McGeever, Jonathan Oatis Organizations: Federal Reserve, New York Stock Exchange, REUTERS, Federal, Fed, Traders, Reuters, CPI, Suttle, Steno Research, Thomson Locations: New York City, U.S, ORLANDO, Florida, materializing

REUTERS/Sarah SilbigerAug 10 (Reuters) - Federal Reserve policymakers are unlikely to raise interest rates again in 2023 and will probably start cutting them early next year, traders bet on Thursday, after a U.S. government report showed consumer prices rose only moderately last month. Traders of futures tied to the Fed's policy rate now see less than a 10% chance that the U.S. central bank will increase its benchmark overnight interest rate from its current 5.25%-5.50% range at a Sept. 19-20 policy meeting. The Fed's first rate cut is priced into the futures contracts by March of 2024. The Fed has driven its policy rate up by 5.25 percentage points since March 2022 to bring inflation back down to its 2% goal. "There's always a chance we get reacceleration of inflation prints after October, but I don't think that's going to spur Fed action."

Persons: Sarah Silbiger, Guy Lebas, Janney Montgomery Scott, Ann Saphir, Karen Brettell, Lucia Mutikani, Bernadette Baum, Paul Simao Organizations: Eccles Federal Reserve, Washington , D.C, REUTERS, Federal Reserve, Labor Department, Traders, Thomson Locations: Washington ,, U.S

☆ Oil dips as demand concerns mount; eyes on US inflation data
▼ + stars: | 2023-08-10 | by ( Muyu Xu | ) www.reuters.com time to read: +3 min

U.S. crude inventories (USOILC=ECI) rose by 5.9 million barrels in the last week to 445.6 million barrels, compared with analysts' expectations in a Reuters poll for a 0.6 million-barrel rise, U.S. Energy Information Administration data showed on Wednesday. U.S. crude oil exports fell by 2.9 million barrels per day last week, the steepest fall on record, to 2.36 million barrels per day (bpd), according to the data. Concerns over LNG supply drove European gas prices to a nearly 2-month high on Wednesday and buoyed the demand outlook for diesel as alternative fuel. However, oil prices remained supported by supply tightness worries as tensions between Russia and Ukraine in the Black Sea region could threaten shipment of Russian oil. Top exporter Saudi Arabia's plans to extend its voluntary production cut of 1 million barrels per day for another month to include September.

Persons: Johan Sverdrup, Carina Johansen, NTB, Brent, Phil Flynn, Priyanka Sachdeva, Phillip Nova, Jun Rong, Muyu Xu, Laura Sanicola, Muralikumar Organizations: West Texas, U.S . Energy, Price Futures, Index, CPI, Woodside Energy Group, IG, Saudi, Thomson Locations: North, China, U.S, ., United States, Chevron, Russia, Ukraine, Saudi Arabia, Singapore, Washington

☆ Stock futures rise slightly after July's cooler-than-anticipated consumer inflation reading: Live updates
▼ + stars: | 2023-08-10 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

U.S. stock futures inched up on Thursday night as traders mulled over July's consumer inflation report and looked ahead to wholesale prices data. Futures linked to the Dow Jones Industrial Average rose by 38 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures climbed 0.1% and 0.2%, respectively. The S&P 500 ticked up just 0.03%. On a weekly basis, the S&P 500 and the Nasdaq are bound for declines of 0.2% and 1.2%, respectively.

Persons: Dow Jones, James Demmert, it's, Dow Organizations: Dow Jones, Nasdaq, Dow, Research, CPI

☆ CPI Report Today: Dow Futures Gain Ahead of Inflation Data
▼ + stars: | 2023-08-10 | by ( ) www.wsj.com time to read: 1 min

Stock futures gained ahead of the release of July's consumer-price index, which is due at 08:30 a.m. The latest readout on U.S. inflation will be an important data point for the Federal Reserve ahead of its September meeting—and equally important for investors trying to gauge how close the central bank is to ending its campaign of interest-rate rises. CPI is seen rising 0.2% on-month and 3.3% year-on-year. Excluding food and energy, those rates are seen at 0.2% and 4.8%, respectively.

Persons: — Organizations: Federal

☆ Following CPI report, the market has locked in on no more rate hikes from the Fed
▼ + stars: | 2023-08-10 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

The market has its mind made up: July's tame inflation reading means no more interest rate hikes from the Federal Reserve. The "patience" reference goes to whether policymakers will be satisfied that inflation will come back to normal without any further rate increases, or if additional tightening is necessary. Following Thursday's release of the consumer price index , which showed a 12-month inflation rate of 3.2%, markets upped their bets that the Fed is staying put. The chance of any additional rate increases also declined, dropping to 27.3% for November and 24.1% for December, as of about 1:30 p.m. Thus, there was some caution from the CPI internals, and a stock market rally cooled Thursday afternoon as Wall Street digested the report.

Persons: Quincy Krosby, Bill Adams, Rick Rieder, Tom Lee, Bradley Saunders Organizations: Federal, LPL, of Labor Statistics, Fed, Comerica Bank, Market Committee, Capital Economics Locations: BlackRock

☆ DCLA's Sarat Sethi on July CPI report: Inflation coming down 'but still embedded in our system'
▼ + stars: | 2023-08-10 | 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 EmailDCLA's Sarat Sethi on July CPI report: Inflation coming down 'but still embedded in our system'Sarat Sethi, DCLA Managing partner, joins 'Squawk Box' to react to July's CPI report, what it means for the Fed's rate hike campaign, and more.

Persons: Sarat Sethi, DCLA Organizations: CPI

☆ Ed Yardeni: No recession in sight, the economy is in a rolling recovery
▼ + stars: | 2023-08-10 | 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 EmailEd Yardeni: No recession in sight, the economy is in a rolling recoveryEd Yardeni, Yardeni Research president, joins 'Closing Bell' to discuss his takeaways from July's CPI report.

Persons: Ed Yardeni Organizations: Yardeni Research, CPI

☆ Biden embraces July inflation report: 'That's Bidenomics'
▼ + stars: | 2023-08-10 | by ( Emma Kinery | ) www.cnbc.com time to read: +1 min

US President Joe Biden speaks on how "Bidenomics" is helping clean energy and manufacturing, at Arcosa Wind Towers in Albuquerque, New Mexico, on August 9, 2023. WASHINGTON — Despite a small rise in inflation last month over June's rate, President Joe Biden on Thursday insisted that July's consumer price index of 3.2% was only one facet of a broader picture of U.S. economic strength. "We've made this progress while maintaining the broad strength of our economy," he said, noting that unemployment remained near 50 year lows. And while 3.2% is technically an increase over June's year-over-year rate of 3.0%, it is below analysts' estimates of 3.3%. Still, there are signs the strong economy is not paying political dividends to the president, at least not yet.

Persons: Joe Biden, WASHINGTON —, Biden, We've Organizations: WASHINGTON, Federal Reserve Locations: Albuquerque , New Mexico, U.S, New Mexico

☆ Here's the inflation breakdown for July, in one chart
▼ + stars: | 2023-08-10 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

July's CPI report was "better than we were expecting," said Eugenio Aleman, chief economist at Raymond James. Nearly all of the monthly inflation increase came from shelter costs, which increased by 0.4% and were up 7.7% compared with one year ago. Despite rising oil costs, energy prices increased just 0.1% in July and food increased 0.2%, according to the bureau. However, there was relief for used vehicle prices, which dropped by 1.3%, and medical care services, which were down 0.4%. 'Jumping oil prices' is a threat to inflation targetwatch nowMillions of households are 'stretched financially'Despite falling inflation, many Americans are still feeling the pinch of higher prices.

Persons: July's, Eugenio Aleman, Raymond James, it's, Aleman, Greg McBride, It's Organizations: U.S . Bureau of Labor Statistics, July's CPI Locations: U.S

☆ Inflation ticked up in July, pausing a year of slowing price growth
▼ + stars: | 2023-08-10 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Inflation as measured by the CPI was expected to accelerate, with a year-over-year CPI forecast of 3.3% for July after June's 12-month change of 3.0%. Inflation had been cooling for 12 straight months before the latest CPI release. That increase is around the forecast, a year-over-year increase of 4.8%. The food index surged 4.9% year over year in July. "Despite elevated inflation, longer-term inflation expectations appear to remain well anchored, as reflected in a broad range of surveys of households, businesses, and forecasters, as well as measures from financial markets."

Persons: That's, Tom Garretson, Garretson, Greg McBride, Jerome Powell Organizations: Service, Index, Bureau of Labor Statistics, CPI, RBC Wealth Management, Federal Locations: Wall, Silicon

☆ European markets climb on strong earnings ahead of key U.S. inflation print
▼ + stars: | 2023-08-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

LONDON — European markets were higher on Thursday as investors digested a fresh round of corporate earnings and looked ahead to a key U.S. inflation print that could provide hints about the Federal Reserve 's next monetary policy move. The pan-European Stoxx 600 index rose by 0.6% in early trade, with insurance adding 1.7% to lead gains while mining stocks fell 0.4% as the only sector in the red. The European blue chip index closed Wednesday's session up 0.4%, with oil and gas stocks adding 2.3% to lead gains as most sectors finished the day in positive territory. Stateside, stock futures were higher in early premarket trade after another negative session on Wall Street. Back in Europe, corporate earnings continue to roll in and influence individual share price action.

Persons: Dow Jones, Hong Organizations: Federal, Siemens, Zurich Insurance, Thyssenkrupp, Deutsche Telekom, HelloFresh Locations: U.S, London, Asia, Pacific, Europe

☆ Soft landing hopes are drawing money back into this risky asset that’s paying 8% yield. How to navigate
▼ + stars: | 2023-08-10 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

High yield mutual funds and exchange traded funds saw inflows of $1.9 billion in July, Barclays said, citing Lipper data. High yield bonds are corporate issues that are rated below BBB, meaning they have a higher risk of default compared to their investment-grade counterparts. "When we are in junk and high yield names, we prefer loans – more senior loan positions rather than high yield." Novak added outside of high yield loans, the firm's other big fixed income play is higher quality investment grade bonds. "We don't think taking a heroic position [in high yield] makes a whole lot of sense in our view," he said.

Persons: Dow Jones, Bill Zox, it's, Zox, Bryan Novak, Novak, Brandywine's Zox, nonbank financials, Bill Ahmuty, Lawrence Gillum, Michael Bloom Organizations: Barclays, Fitch, Management, Brandywine Global, SEC, Astor Investment Management, Corporate, State, LPL

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