China’s new home prices extend declines in January
China’s January new home prices fell for the seventh straight month, official data showed on Friday, even as policymakers stepped up support to restore confidence in the debt-ridden sector. New home prices fell 0.3% month-on-month after dipping 0.4% in December, according to Reuters calculations based on National Bureau of Statistics (NBS) data. Prices…
Oil edges higher, holding to gains made on signs of tighter supply
Oil prices rose slightly on Thursday, holding to gains from the previous session that came amid signs of tighter supply. U.S. West Texas Intermediate crude futures (WTI) rose 17 cents to $78.08 a barrel for the prompt month. The May contract gained 14 cents to $77.45 a barrel by 0150 GMT. Brent crude…
US futures dip before Fed minutes; Nvidia falls ahead of Q4 earnings
U.S. stock index futures fell slightly on late-Tuesday as markets awaited more cues on monetary policy from the minutes of the Federal Reserve’s late-January meeting. Tech stocks remained on the backfoot, with chipmaking heavyweight NVIDIA Corporation (NASDAQ:NVDA) extending losses into aftermarket trade in anticipation of its fourth-quarter earnings, which are due after the…
Asian stocks find little cheer from China’s interest rate cut
Most Asian stocks retreated on Tuesday, extending recent losses as persistent concerns over slowing economic growth and high U.S. interest rates largely offset a bigger-than-expected cut in China’s benchmark lending rate. Chinese markets fell slightly after a largely underwhelming return from the week-long Lunar New Year holiday, while a bigger-than-expected cut in the…
US stock futures edge higher after PPI hit; Earnings test awaited
U.S. stock index futures rose slightly in evening deals on Sunday, steadying after a stronger-than-expected producer inflation reading spurred some losses in the prior session, with focus now turning to a swathe of major earnings this week. Trading volumes were limited ahead of a holiday on Monday. S&P 500 futures were flat, while…
Japan enters technical recession in Q4, muddling BOJ’s pivot plans
The Japanese economy unexpectedly shrank in the fourth quarter of 2023, entering a technical recession as sticky inflation and a weak yen weighed on private spending, which largely offset improved export demand. The reading now complicates the Bank of Japan’s plans to begin tightening policy this year, given that worsening growth necessitates stimulus…
Asia stocks edge down; dollar rides Treasury yields higher
Asian shares tracked a negative lead from Wall Street on Wednesday, while the dollar and Treasury yields jumped as traders pared back expectations for the pace and scale of rate cuts by the Federal Reserve this year. The latest shift in rate expectations came after an upside surprise in U.S. inflation on Tuesday…
Take Five: Rain check on those rate-cut bets?
As China’s troubled markets take time out for the Lunar New Year holiday, U.S. inflation numbers, key UK data, Russia’s central bank meeting and an election in the world’s third-largest democracy vie for the spotlight. Here’s your week ahead primer in world markets from Rae Wee in Singapore, Ira Iosebashvili in New York,…
China CPI inflation underwhelms in Jan, PPI sees limited improvement
Chinese consumer price index inflation grew less than expected in January as the new year holiday spurred limited increases in spending, while a sustained contraction in factory gate inflation eased slightly. CPI inflation rose 0.3% month-on-month in January, data from the National Bureau of Statistics showed. The reading was weaker than expectations for…
Moody’s downgrades New York Community Bancorp to junk
Moody’s Investors Service said on late-Tuesday that it had downgraded New York Community Bancorp Inc (NYSE:NYCB) to junk, coming just a week after the beleaguered regional bank posted steep losses tied to its commercial real estate loans. Moody’s downgraded all long-term and some short-term ratings of NYCB to Ba2 from Baa3, and also…
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