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  • Aug 15, 2024

Japanese stocks head for best week in 4 years as receding growth fears lift markets

Asia shares were headed for a weekly gain on Friday and Japan's benchmark Nikkei was poised for its best week in over four years as upbeat risk sentiment spilled over from Wall Street, while the dollar and U.S. Treasury yields held broadly steady. Last week's market turmoil was replaced by calmer conditions this week after a raft of U.S. economic data allayed recession fears in the world's largest economy and pushed back against expectations for aggressive U.S. rate cuts. MSCI's broadest index of Asia-Pacific shares outside Japan advanced 0.34% in early trade and was set to rise 1.3% for the week, while U.S. futures extended gains following a strong overnight cash session on Wall Street.

  • Aug 15, 2024

Oil prices set for weekly gains on renewed enthusiasm around US economy

Oil prices edged lower in early Asian trading on Friday, but the market's benchmarks were set for a second consecutive weekly gain after upbeat U.S. economic data eased investor worries about a potential recession in the top oil consuming nation. Brent crude futures fell 16 cents, or 0.2%, to $80.88 per barrel by 0024 GMT. "US economic data released this week has helped to temper fears of a sharp slowdown in the US economy," analysts at energy consultancy FGE said.

  • Aug 15, 2024

Oil Steadies at End of Choppy Week as Iran Remains in Spotlight

(Bloomberg) -- Oil was steady at the end of a turbulent week as the market weighed strong US economic data and a possible attack by Iran or its proxies on Israel against a lackluster Chinese demand outlook.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionThe Cross-Continental Race Using Only Public Tra

  • Aug 15, 2024

Carry Trade That Blew Up Markets Is Attracting Hedge Funds Again

(Bloomberg) -- A popular yen-centered carry trade that blew up spectacularly two weeks ago appears to be creeping back.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionThe Cross-Continental Race Using Only Public TransitJapan’s currency has weakened more than 5% against the dollar since Aug. 5, when a

  • Aug 15, 2024

Alibaba’s Long-Awaited China Stock Link May Provide Timely Boost

(Bloomberg) -- Chinese investors finally being able to buy shares of Alibaba Group Holding Ltd. may provide a much-needed boost for the e-commerce firm’s stock, with an inflow of up to about $20 billion into next year.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionThe Cross-Continental Race Using Onl

  • Aug 15, 2024

Alibaba’s Long-Awaited China Stock Link May Provide Timely Boost

(Bloomberg) -- Chinese investors finally being able to buy shares of Alibaba Group Holding Ltd. may provide a much-needed boost for the e-commerce firm’s stock, with an inflow of up to about $20 billion into next year.Most Read from BloombergManchester Is Giving London a Run for Its MoneyBoston’s Broke and Broken Transit System Hurts Downtown RecoveryA Warehouse Store Promises Housing for South LA, in BulkBiden Invests $100 Million to Fuel Housing ConstructionThe Cross-Continental Race Using Onl

  • Aug 15, 2024

Harris zeroes in on high food and housing prices as inflation plays a big role in the campaign

Vice President Kamala Harris is zeroing in on high food and housing prices as her campaign previews an economic policy speech Friday in North Carolina, promising to push for a federal ban on price gouging on groceries and laying out plans to cut other costs as she looks to address one of voters' top concerns. Year-over-year inflation has reached its lowest level in more than three years, but food prices are 21% above where they were three years ago. Republican presidential nominee Donald Trump has pointed to inflation as a key failing of the Biden administration.

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