European automakers need time, not tariffs, to fend off China competition
Europe’s car giants won’t have much time to restructure their operations and product lines to compete with ascendant Chinese automakers, and stiffer tariffs will do little to protect the status quo, industry executives said during a Reuters event. European trade regulators in Brussels have said they could levy new tariffs on Chinese electric…
Oil prices fall amid US rate jitters, surprise inventory build
Oil prices fell in Asian trade on Thursday, pressured by persistent concerns over high for longer U.S. interest rates, while an unexpected build in inventories also raised concerns over less tight markets. Traders steadily priced out a risk premium from oil prices this week after the death of Iran’s President appeared to have…
US stock futures tread water; Nvidia anticipation puts Nasdaq at record high
U.S. stock index futures moved little in evening deals on Monday as momentum on Wall Street stalled after buying into technology stocks, ahead of earnings from market darling Nvidia, put the Nasdaq at record highs. Uncertainty over interest rates also remained in play as warnings on sticky inflation from Federal Reserve officials continued…
Asian stocks dip as rate cut rally cools, China data underwhelms
Most Asian stocks fell on Friday as warnings from a slew of Federal Reserve officials saw investors reassess expectations of interest rate cuts, while mixed economic readings from China prompted increased caution. Regional markets took a weak lead-in from Wall Street, as U.S. stock benchmarks closed lower after briefly touching record highs. U.S.…
Japan GDP shrinks more than expected in Q1 as consumption slows
The Japanese economy shrank more than expected in the first quarter of 2024, hit chiefly by a slowdown in consumer spending amid sticky inflation and sluggish wages, while capital spending also slowed. Gross domestic product shrank 0.5% quarter-on-quarter in the three months to March 31, government data showed on Thursday. The reading was…
US stock futures flat after strong session; CPI data awaited
U.S. stock index futures moved little in evening deals on Tuesday after Wall Street shrugged off stronger-than-expected producer inflation data, with focus now turning to a more closely watched reading on the consumer price index. Comments from Federal Reserve Chair Jerome Powell appeared to have factored into some strength on Wall Street, after…
Oil prices inch higher with China cues, Israel-Hamas ceasefire in focus
Oil prices rose in Asian trade on Thursday as focus turned to upcoming trade data from China for more cues on demand in the world’s largest crude importer. Focus also remained on a potential ceasefire between Israel and Hamas, especially as the U.S. picked up its efforts to broker an agreement. The Biden…
Asia FX weakens, dollar firms as markets rethink rate cuts
Most Asian currencies weakened on Wednesday, while the dollar firmed as comments from Federal Reserve officials saw markets rethink expectations for U.S. interest rate cuts. The Japanese yen remained an underperformer among its peers, weakening against the dollar even as government officials kept up their warnings of more potential intervention in currency markets.…
US stock futures muted as rate cut rally cools, more Fed speak awaited
U.S. stock index futures tread water in evening deals on Monday as some Federal Reserve officials said interest rates were likely to remain unchanged in the near-term, with focus turning to more upcoming Fed speakers this week. Wall Street marked three straight days of gains as some less hawkish Fed comments and softer-than-expected…
Oil prices rise as Israel-Hamas ceasefire hopes dim
Oil prices rose in Asian trade on Monday after clocking their worst weekly decline in seven months, amid growing signs that the latest ceasefire talks between Israel and Hamas had yielded little progress. Further gains in oil were limited by the prospect of weakening demand and less tight supplies this year. The two…
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