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Morning Bid: Bonds droop as inflation cheer fades
  + stars: | 2023-08-11 | by ( ) www.reuters.com   time to read: +3 min
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 1, 2023. Perhaps ask your friendly bond dealer, as traders in the world's deepest market quickly got over their excitement at steadying inflation, which held at 0.2% month-on-month. Yields went up along the curve, even if markets took the risk of another rate hike next month down a little. Yet the U.S. dollar held gains made overnight and took the yen back near levels that prompted intervention last year. Stocks there were back under pressure during Friday, with Alibaba (9988.HK) handing back gains on its solid result and property stocks sliding.
Persons: Tom Westbrook, Stocks, Treasuries, Joe Biden, Philip Lowe, Michelle Bullock, Jacqueline Wong Organizations: REUTERS, Staff, U.S ., HK, Chevron, PPI, Thomson Locations: Frankfurt, Germany, Asia, untraded, Tokyo, China, HK, Australia, Woodside, WDS.AX, Europe, joblessness
"We're going to see our first rise in headline inflation after 12 consecutive months of falling prices," said Ben Laidler, global markets strategist at eToro. The pan-European benchmark STOXX 600 (.STOXX) rose 0.5%, supported by gains in the luxury sector (.STXLUXP) after China lifted a ban on group tours in the United States and other key markets. In currency markets, the dollar index , which measures the U.S. currency against six peers, eased 0.4%. "We've got $1 trillion coming down the pipe over the next three months," eToro's Laidler said. "Any sign that markets are absorbing that well, which we got the first signs of yesterday, will be very well taken."
Persons: Ben Laidler, Laidler, Germany's DAX, Rodrigo Catril, We've, eToro's Laidler, Bond, Brent, Samuel Indyk, Ankur Banerjee, Edwina Gibbs, Sam Holmes, Susan Fenton, Alexandra Hudson Organizations: Silicon Valley Bank, Credit Suisse, Reuters, CAC, FTSE, Wall, National Australia Bank, U.S, Treasury, Alexandra Hudson Our, Thomson Locations: Frankfurt, Silicon, China, United States, Europe's, Europe, CHINA, U.S, Asia, Pacific, Japan, Beijing, Saudi Arabia, Russia
Morning Bid: No respite from China woes
  + stars: | 2023-08-10 | by ( ) www.reuters.com   time to read: +2 min
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 8, 2023. Futures indicate that European stocks are set for a much higher open. Japan's Sony (6758.T) reported a lacklustre first quarter, with the entertainment conglomerate posting dour performances in its movie and financial divisions. The main event of the day, however, will be the U.S. inflation data. Key developments that could influence markets on Thursday:Economic events: Inflation data from Norway, Italy, Portugal and the United StatesReporting by Ankur Banerjee; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.
Persons: Ankur Banerjee, Italy's, Joe Biden, Walt Disney, Japan's, Muralikumar Organizations: REUTERS, Staff, Ankur, Japan's Sony, U.S, CPI, Reserve, United, Thomson Locations: Frankfurt, Germany, U.S, Asia, Pacific, Japan, China, Norway, Italy, Portugal
Doctors could soon be getting an extra hand in the office in the form of AI assistants. One telehealth startup is using an AI chatbot to analyze symptoms ahead of a doctor's visit. But doctors could soon be getting an extra hand in the office in the form of AI assistants. Some AI companies are creating tools that could ease physician burnoutAI is already helping to balance doctors' busy schedules in several ways. The company has not disclosed how it obtained the initial data on which its AI was trained but claims it's HIPAA-compliant.
Persons: , Ran Shaul, it's, K Health's chatbot, Shaul, Stephanie Foley's, Foley, K, Craig Spencer, Spencer, AI's, McDonald's Organizations: Healthcare, Morning, Mayo Clinic, American Medical Association, Stanford University School of Medicine, University of Colorado School of Medicine, American Medical Informatics Association, Family, American Medical Association Internal Medicine, Health, Maccabi, K Health, Brown University Locations: Teladoc, ChatGPT
European stocks dip as Italian banks, downbeat data weigh
  + stars: | 2023-08-08 | by ( ) www.reuters.com   time to read: +1 min
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 7, 2023. By 0707 GMT, the pan-European STOXX 600 index (.STOXX) was down 0.3%. Germany's DAX index (.GDAXI) fell 0.4% after data showed inflation eased to 6.5% in July, but was in line with economist expectations. Shares of Glencore (GLEN.L) slumped nearly 3% after the global miner said its earnings had halved in the first half. Reporting by Shashwat Chauhan and Sruthi Shankar in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.
Persons: Matteo Salvini, Germany's DAX, Shashwat Chauhan, Sruthi Shankar, Sherry Jacob, Phillips Organizations: REUTERS, Staff, MIB, Thomson Locations: Frankfurt, Germany, China, United States, Beijing, Bengaluru
Morning Bid: Germany to kick off CPI mega-run
  + stars: | 2023-08-08 | by ( ) www.reuters.com   time to read: +3 min
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 1, 2023. Still, investors' focal point for the week is the U.S. consumer price index amid recent goldilocks data and remarks from Fed Chair Jerome Powell that's given strength to the economic soft-landing narrative. Fed officials continue to emerge from their silence this week after hiking rates another 25 basis points at their last meeting. Investors betting the Fed has reached the end of rate increases will have another chance to gauge their theory when Philadelphia Fed President Harker and Richmond Fed President Barkin speak on Tuesday. Their remarks will be top of investor watchlists after mixed messages about the future rate path from New York Fed President John Williams and Fed Governor Michelle Bowman on Monday.
Persons: Brigid Riley Germany, Jerome Powell that's, Harker, Barkin, John Williams, Michelle Bowman, Fed's Harker, Brigid Riley, Christopher Cushing Organizations: REUTERS, Staff, Federal Reserve, Central Bank's, Philadelphia Fed, Richmond Fed, New York Fed, Bank of Japan, CPI, Hungary CPI, Bayer, InterContinental Hotels, Thomson Locations: Frankfurt, Germany, China, United States, U.S, Richmond, New, Asia, Hungary
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
Chance are that during your doctor's appointments these days, your physician is laser-focused on typing notes into a computer while talking with you. Doctors and medical professionals who've adopted the technology are finding A.I.-powered visits can save time and help fight burnout. And so we need to combat that administrative burden," said Dr. Julie O'Connor, physician solutions consultant as Microsoft's Nuance division. Nuance developed DAX Express, a generative A.I.-powered clinical documentation app that creates those critical doctor's notes – instantly. She ran DAX Express to record our interaction and one minute after she pressed stop on the recording, the app had typed up a full medical documentation that would go into a medical record.
Persons: Chance, who've, Julie O'Connor, , O'Connor, drudge, — CNBC's Jodi Gralnick Organizations: Express Locations: U.S
How hospitals are using A.I. to fight doctor burnout
  + stars: | 2023-08-07 | by ( Bertha Coombs | ) www.cnbc.com   time to read: +3 min
Foy and other doctors at Baptist Health have been using the DAX app, powered by artificial intelligence, from Microsoft's Nuance division since last year. The program transcribes doctors' and patients' comments, then creates a clinical physician summary formatted for an electronic health record. Dr. Trachella Johnson CNBCThe app frees doctors from having to type up notes during patient visits, and from having to finish them up at night. The cost of tackling burnoutHarnessing AI programs to put pajama time to rest, and helping doctors and nurses fight burnout, is a top priority for Baptist Health's chief digital and information officer Aaron Miri. "There's new economies of scale ... that healthcare will be able to get into [by] leveraging AI," Miri said.
Persons: Tra'chella Johnson Foy, Foy, Trachella Johnson, Aaron Miri Organizations: Baptist Health, Trachella Johnson CNBC, Baptist, National Bureau of Economic Research Locations: Jacksonville , Florida, Miri
What it's like to have a doctor visit with A.I.
  + stars: | 2023-08-07 | by ( Bertha Coombs | Jodi Gralnick | ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat it's like to have a doctor visit with A.I. Dr. Julie O'Connor of Microsoft's Nuance division shows CNBC's Bertha Coombs what it's like to do a doctor's appointment using the company's AI application DAX Express, which automatically documents the clinical record of the visit.
Persons: Julie O'Connor, CNBC's Bertha Coombs Organizations: A.I
[1/2] The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. Investor attention will be squarely on the July U.S. non-farm payrolls report, with a Reuters survey of 80 economists expecting payrolls to have increased by 200,000 last month, after rising 209,000 in June. "Today’s U.S. payrolls data is likely to continue to showcase the resilience of the U.S. economy," Michael Hewson, chief market analyst at CMC Markets, said in a note. The dollar meanwhile rose 0.1% against a basket of major currencies , heading for its third weekly gain in a row. Oil prices headed for a sixth straight weekly gain, driven up by the prospect of reduced supply from Saudi Arabia and Russia.
Persons: Toby Melville, payrolls, Michael Hewson, Germany's DAX, Francesco Sandrini, Fitch, Brent, Ankur Banerjee, Muralikumar Anantharaman, Kirsten Donovan, Alexander Smith Organizations: London Stock Exchange Group, City of, REUTERS, Treasury, U.S . Federal, CMC Markets, FTSE, Nasdaq, Apple, Bank of England, U.S ., U.S . Treasury, Thomson Locations: City, City of London, Britain, U.S, United States, Saudi Arabia, Russia, Singapore
FILE PHOTO-A logo of German real estate company Vonovia, is pictured during a news conference in Duesseldorf, Germany, March 6, 2018. After a decade-long property boom, Germany is undergoing a sharp reversal of fortune after an era of cheap money ended. Germany's real estate sector is mired in its worst crisis in decades, marked by insolvencies, fizzling transactions, falling prices and a stagnation in construction jobs. Vonovia, which went public in 2013 at the start of the property boom and took over its biggest rival in 2021, serves as a bellwether for Germany's property sector. Vonovia affirmed full-year guidance for its key profit metric - so-called funds from operation - of 1.75 billion euros to 1.95 billion euros, down from 2.04 billion in 2022.
Persons: Thilo, Vonovia, Chancellor Olaf Scholz, Rolf Buch, Matthias Inverardi, Tom Sims, Miranda Murray, Friederike Heine, Kim Coghill, Alexander Smith Organizations: REUTERS, Reuters Graphics, Stifel, Thomson Locations: Duesseldorf, Germany
European shares (.STOXX) slipped 0.6%, bruised by disappointing earnings reports and elevated U.S. bond yields, on course for their third straight day of losses. Sterling extended losses after the BoE decision, falling as much as 0.7% to its lowest since June 30. The BoE decision was closely watched for clues on how central banks globally will balance taming inflation and maintaining growth. U.S. 10-year yields hit a new nine-month peak of 4.17%, while 30-year yields rose to a fresh nine-month top. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.4%, extending losses after a drop of 2.3% a day earlier.
Persons: Sterling, BoE, Stuart Cole, Morgan Stanley, Tom Wilson, Stella Qiu, Mark Potter, Bernadette Baum Organizations: REUTERS, Staff, Sterling, LONDON, Bank of England, FTSE, Equiti, Nasdaq, Treasury, U.S, AMAZON Investors, Apple, Thomson Locations: Frankfurt, Germany, Asia, Pacific, Japan, China, London, Sydney
After being drafted by the Los Angeles Rams in 1991, Crews spent five years bouncing between six professional teams, including one in Germany. "I would have made more money at McDonald's," Crews, 55, said. It's unclear how much money Crews made in total during his NFL career, which included 32 games for the Rams, San Diego Chargers and Washington Redskins. The Chargers now play in Los Angeles, and Washington D.C.'s team is now called the Commanders. When his ex-teammate stopped lending him money, Crews took a job sweeping factory floors for $8 per hour, he said.
Persons: Terry Crews, Crews, Dax Shepard's, I'd, Organizations: National Football League, Los Angeles Rams, Green Bay Packers, NFL, Rams, San Diego Chargers, Washington Redskins, The Chargers, Washington D.C, National Bureau of Economic Research, CNBC Locations: Germany, Wisconsin, McDonald's, Los Angeles, Washington, skylines
BMW lifts outlook, warns inflation and supply issues not over
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +1 min
BERLIN, Aug 1 (Reuters) - BMW (BMWG.DE) lifted its annual outlook for its margin on earnings before interest and taxes (EBIT) in the automotive segment on Tuesday but said it foresaw ongoing challenges from supply chain issues and inflation in the second half of the year. The carmaker's forecast mirrored that of competitors such as Mercedes-Benz (MBGn.DE) which also raised their earnings outlook but warned the macroeconomic environment would continue to weigh on output. The preliminary results and outlook adjustment failed to impress markets, with shares down 4.5% at 0908 GMT, underperforming Germany's DAX and Europe's autos index. BMW sales rose 4.7% in the first half of the year compared to last year, when supply chain issues caused by factors including the war in Ukraine and lockdowns in China dented output. ($1 = 0.9114 euros)Reporting by Victoria Waldersee, additional reporting by Tristan Chabba; editing by Matthias Williams, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.
Persons: Germany's DAX, Victoria Waldersee, Tristan Chabba, Matthias Williams, Kirsten Donovan Organizations: BMW, Mercedes, Benz, Thomson Locations: Ukraine, lockdowns, China
FRANKFURT, Aug 1 (Reuters) - Germany's property sector is under stress, prompting firms to call for government support, property developers to file for insolvency and share prices of landlords to plunge. Reuters GraphicsIt's just the latest in a flurry of indicators that show real estate in Germany is in a deep funk. "Many, many property developers at the moment are postponing projects or slowing them down," said Francesco Fedele, chief executive of BF.direkt, a property financing consultant. THE DAXVonovia, Germany's largest real estate group, serves as a bellwether for Germany's property sector. TRANSACTIONSGermany is the largest real estate investment market on the European continent.
Persons: Francesco Fedele, DAX Vonovia, Jones Lang LaSalle, Tom Sims, Holger Hansen, Ed Osmond Organizations: FRANKFURT, Reuters, Reuters Graphics, Stifel, Thomson Locations: United States, Sweden, Germany, Berlin, Frankfurt, Denmark, Europe
VW cuts 2023 deliveries outlook, aims to boost cash flow
  + stars: | 2023-07-27 | by ( ) www.reuters.com   time to read: +3 min
Supply of key components such as semiconductors had improved but transport and logistics delays weighed on the first half, Volkswagen said. Still, it expected significantly shorter waiting times in the second half and said demand was stable with order books full at 1.65 million vehicles. Reuters GraphicsWorldwide, the Volkswagen Group delivered 2.3 million vehicles in the period from April to June, 18% more than in the same period last year. The focus for the second half is now on strengthening net cash flow," said Chief Financial Officer Arno Antlitz. In May, Volkswagen said it had sold its shares in Volkswagen Group Rus to Art-Finance, which is supported by autodealer group Avilon.
Persons: DAX, Arno Antlitz, Cupra, Miranda Murray, Rachel More, David Goodman Organizations: VW, BERLIN, Volkswagen, Benz, Renault, Graphics Worldwide, Volkswagen Group, VW Commercial Vehicles, Skoda, Audi, Lamborghini, Bentley, Ducati, Reuters Graphics Reuters, Rus, Art, Finance, Victoria, Thomson Locations: Kaluga
Retail sales increased 0.2% last month, the U.S. Commerce Department said, but core retail sales increased 0.6%, excluding automobiles, gasoline, building materials and food services. Headline data for May also was revised higher to show sales gaining 0.5% instead of 0.3% as previously reported. Asian stocks fell earlier in the session as markets caught up with growth data from Monday showing the post-pandemic bounce in China's economy was over. Besides the Fed, the European Central Bank and the Bank of Japan also hold policy meetings next week. Expectations that the Fed and the ECB will diverge on rate hikes have caused the dollar to weaken recently.
Persons: Brendan McDermid, Morgan Stanley, Jimmy Chang, Chang, J.P, Morgan, Fiona Cincotta, DAX, Brent, Herbert Lash, Elizabeth Howcroft, Selina Li, Chizu Nomiyama, Jonathan Oatis, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Bank, Federal, Bank of America, U.S . Commerce Department, Rockefeller, Dow Jones, Nasdaq, Deutsche Bank, Citigroup, Fed, European Central Bank, Bank of, ECB, U.S, West Texas, Thomson Locations: New York City, U.S, New York, Europe, China, Germany, Bank of Japan, London, Hong Kong
[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. Headline data for May also was revised higher to show sales gaining 0.5% instead of 0.3% as previously reported. Deutsche Bank said it was lowering its forecast for China's economic growth this year, following similar moves on Monday by J.P. Morgan, Morgan Stanley and Citigroup. Besides the Fed, the European Central Bank and the Bank of Japan also hold policy meetings next week. Expectations that the Fed and the ECB will diverge on rate hikes have caused the dollar to weaken recently.
Persons: Brendan McDermid, Dow Industrials, Thomas Hayes, Dow, Morgan Stanley, J.P, Morgan, Fiona Cincotta, DAX, Brent, Elizabeth Howcroft, Selina Li, Chizu Nomiyama, Jonathan Oatis Organizations: New York Stock Exchange, REUTERS, Reserve, U.S . Commerce Department, Treasury, Dow, Nasdaq, Microsoft Corp, Amazon.com Inc, Apple Inc, Great, Great Hill Capital, Bank of America, Dow Jones, Deutsche Bank, Citigroup, Fed, European Central Bank, Bank of, ECB, Thomson Locations: New York City, U.S, Great Hill, New York, Europe, China, Germany, Bank of Japan, Hong Kong
As investors bet on a milder inflation outlook, the MSCI World Equity index (.MIWD00000PUS) rose to its highest so far this year. BOND YIELD BOUNCEU.S. government bond yields bounced back slightly on Friday after sharp declines earlier in the week. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was up 10.6 bps at 4.717%. "Getting the 3% (inflation reading) is one thing, getting back to 2% is going to be a much harder task," Villamin said. LOWER DOLLAR HOLDSThe dollar hovered near a 15-month low on Friday and was set for its biggest weekly decline since November after softening U.S. inflation data.
Persons: Brendan McDermid, Germany's DAX, Michele Morganti, Morganti, Norman Villamin, We're, Villamin, Brent, Lawrence Delevingne, Elizabeth Howcroft, Jan Harvey, Nick Macfie Organizations: New York Stock Exchange, REUTERS, U.S . Federal Reserve, Wednesday U.S, JPMorgan Chase, UnitedHealth, Dow Jones, Nasdaq, Generali Investments, Treasury, Brent, Thomson Locations: New York City, U.S, Rome, Libya, Nigeria, Boston, London
As investors bet on a milder inflation outlook, the MSCI World Equity index rose to its highest so far this year. On Friday it was up 0.2% on the day, after a week of gains put it on track for its biggest weekly rise since November 2022 (.MIWD00000PUS). The positive momentum was set to continue into Wall Street, with S&P 500 futures up 0.1% and Dow futures up 0.4% . The U.S. dollar index was at 99.821, holding near the 15-month low of 99.574 hit earlier in the session and set for its biggest weekly decline since November . Meanwhile the Swedish crown was set for its biggest weekly gain against both the dollar and euro in 14 years , .
Persons: Germany's DAX, Norman Villamin, We're, Villamin, UBP's Villamin, Brent, Gold, Elizabeth Howcroft, William Maclean, Chizu Organizations: U.S . Federal Reserve, Dow, Money, Federal Reserve, U.S, JPMorgan Chase, Wells, Thomson Locations: Europe, U.S
LONDON, July 5 (Reuters) - Dismissal of this year's much-scorned equity market rally as the frothy preserve of a handful of AI-fuelled stocks may be both misleading and also one of its strengths. Or, put another way, if you remove the top 10 stocks, the other 490 would only have gained 4%. And an eye-popping 75% surge in the high-octane 10-stock FANG+TM index (.NYFANG) - mega cap U.S. digital and tech stocks including Apple, Microsoft, Nvidia and Tesla - underlines that. In short, they're hard to avoid unless you dodge either U.S.-listed companies or equity markets altogether. "While stock market investments may be risky in the short run, when viewed against inflation they have offered far more certainty in the long run," he told clients.
Persons: Russell, Andrew Lapthorne, Japan's, Germany's DAX, Italy's, Duncan Lamont, Lamont, Mike Dolan, Mark Potter Organizations: Nasdaq, Apple, Microsoft, Nvidia, Tesla, H1 Stock, Japan's Nikkei, MIB, McKinsey, Bank, Big Tech, Reuters, Twitter, Thomson Locations: Europe, Japan, U.S, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAutos, health care and pharma among sectors to watch for IPOs: FreshfieldsChristoph Gleske, partner at Freshfields, discusses his outlook for capital markets in Germany as the DAX index turns 35.
Persons: Freshfields Christoph Gleske, DAX Organizations: pharma Locations: Germany
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe diversification of the DAX has improved stability, exchange board member saysThe DAX index has become more diversified since its founding 35 years ago, but pan-European structures can make it more attractive, says Stephan Leithner, Member of the Executive Board at Deutsche Boerse.
Persons: DAX, Stephan Leithner Organizations: Deutsche Boerse
After a start in Bilbao, Spain, the Tour heads to France on Monday with visits to Bayonne, Dax, Pau and Bordeaux during the week. Foreign team members have confessed not knowing much about the situation in France, arguing they are in a 'bubble' on the Tour de France. Tour de France organisers say they are ready to adjust to any situation. "I don't really have any comment on it, that's one for the authorities who are working very hard," Rod Ellingworth, the racing director of the Ineos-Grenadiers team, told Reuters. "The organisers did not even mention it at the team meeting (before the start of the race).
Persons: Prudhomme, Rod Ellingworth, Philippe Mauduit, Adrien Petit, Julien Pretot, Christian Radnedge Organizations: SEBASTIAN, Tour de, Tour de France, de France, State, Grenadiers, Reuters, Citroen, Thomson Locations: Spain, Bilbao, France, Bayonne, Dax, Pau, Bordeaux, North
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