Latest news with #GreggMaloney
CTV News
2 days ago
- Business
- CTV News
Global equity funds draw inflows on cooler CPI report, U.S.-China deal
Specialist Gregg Maloney works on the floor of the New York Stock Exchange (AP Photo/Richard Drew) Global equity funds attracted net inflows for the first time in four weeks in the week through June 11, driven by a benign U.S. inflation report and developments on a U.S.-China trade deal, though simmering Middle East tension tempered investor interest. Investors acquired a net $3.19 billion worth of global equity funds during the week, snapping a three-week-long string of selling, data from LSEG Lipper showed. European equity funds attracted a net $3.66 billion worth of investments, the largest for a week in three. U.S. equity fund outflows eased to a four-week low of $212 million while investors withdrew about $605 million from Asian funds. The MSCI World index, however, slipped from record highs on Friday as conflict escalated in the Middle East after Israel launched a military strike on Iran. Equity sectoral funds were popular for a third consecutive week as investors added a net $586 million to these funds. The industrial sector drew $1.1 billion, communication services attracted $513 million while healthcare sector funds lost a net $676 million in outflows. Global bond funds witnessed net purchases for an eighth successive week, totaling $20.15 billion on a net basis. Euro-denominated bond funds saw robust inflows of $7.83 billion, the largest weekly figure since October 2020. Global short-term and high-yield bond funds also attracted $3.79 billion and $2.13 billion, respectively. Money market funds saw a net $4.39 billion worth of sales, following a hefty $109.45 billion worth of inflows the week before. Gold and precious metals commodity funds stayed in demand for the third week in a row, with a net $1.04 billion worth of purchases during the week. Emerging market bond funds gained about $1.87 billion in a seventh successive weekly inflow, while equity funds saw net buying of $889 million, data for a combined 29,674 funds showed. (Reporting by Gaurav Dogra in Bengaluru; Editing by Clarence Fernandez)
Japan Today
02-05-2025
- Business
- Japan Today
Asian shares rise as China says it's considering U.S. overtures on Trump's tariffs
Specialist Gregg Maloney works at his post on the floor of the New York Stock Exchange, Monday, April 28, 2025. (AP Photo/Richard Drew) By JIANG JUNZHE Asian markets advanced Friday after China's Commerce Ministry said Beijing is evaluating overtures from the U.S. regarding President Donald Trump's tariffs. Futures and oil prices advanced. Hong Kong's Hang Seng surged 1.8% to 22,518.32 while markets in Shanghai were closed for a public holiday. Taiwan's benchmark jumped 2.7%. An unnamed Chinese Commerce Ministry spokesperson was cited as saying that Beijing had taken note of various statements by senior U.S. officials indicating a willingness to negotiate over tariffs. 'At the same time, the U.S. has recently taken the initiative to convey information to the Chinese side on a number of occasions through relevant parties, hoping to talk with the Chinese side. In this regard, the Chinese side is making an assessment,' it said. Tokyo's Nikkei 225 picked up 1% to 36,830.69, while South Korea's Kospi rose 0.1% to 2,558.84. Australia's S&P/ASX 200 added 1.1%, closing at 8,238.00. Microsoft and Meta Platforms led Wall Street higher Thursday after the Big Tech companies reported profits for the start of the year that were even bigger than analysts expected. The S&P 500 rose 0.6% for an eighth straight gain to 5,604.14, its longest winning streak since August. The Dow Jones Industrial Average added 0.2% to 40,752.96, and the Nasdaq composite climbed 1.5% to 17,710.74. Microsoft rallied 7.6% after the software giant said strength in its cloud computing and artificial intelligence businesses drove its overall revenue up 13% from a year earlier. Meta, the parent company of Facebook and Instagram, also topped analysts' targets for revenue and profit in the latest quarter. It said AI tools helped boost its advertising revenue, and its stock climbed 4.2%. CVS Health, Carrier Global and a bevy of other companies also joined the stream of better-than-expected profit reports that have helped steady Wall Street over the last week. The S&P 500 is back to within 8.8% of its record set earlier this year, after briefly dropping nearly 20% below the mark. Still, plenty of uncertainty remains about whether President Donald Trump's trade war will force the economy into a recession. General Motors slipped 0.4% after it cut its forecast for profit in 2025, for example. It said it's assuming it will feel a hit of $4 billion to $5 billion because of tariffs, and it expects to offset at least 30% of it. McDonald's fell 1.9% after reporting weaker revenue for the latest quarter than analysts expected, even though its profit was slightly above forecasts. McDonald's joined Chipotle and other restaurant chains that have seen customers grow cautious about the economy and inflation. Consumer surveys show pessimism is shooting higher about where the economy heading. On Thursday, a couple reports about the economy came in mixed, following up on several recent updates that suggested it's weakening. The first of the reports said more U.S. workers filed for unemployment benefits last week than economists had forecast, setting the stage for a more comprehensive report on the job market arriving Friday. The fear on Wall Street is for a possible worst-case scenario called 'stagflation,' where the economy stagnates yet inflation remains high. The Federal Reserve has no good tools to fix both such problems at the same time. If the Fed were to try to help one problem by adjusting interest rates, it would likely make the other worse. Treasury yields swiveled following Thursday's economic reports. The yield on the 10-year Treasury initially fell below 4.13% after the worse-than-expected update on joblessness. But it later trimmed its losses and rallied to 4.21%. That's up from 4.17% late Wednesday. Hopes that Trump may eventually roll back some of his tariffs after reaching trade deals with other countries also helped to support markets. In other dealings early Friday, U.S. benchmark crude oil gained 41 cents to $59.65 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, added 36 cents to $62.49 per barrel. The U.S. dollar slid to 145.23 Japanese yen from 145.40 yen. The euro edged higher, to $1.1319 from $1.1292. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Asahi Shimbun
02-05-2025
- Business
- Asahi Shimbun
Asian shares rise as China says it's considering U.S. overtures on Trump's tariffs
Specialist Gregg Maloney works at his post on the floor of the New York Stock Exchange, April 28, 2025. (AP Photo) HONG KONG--Asian markets advanced Friday after China's Commerce Ministry said Beijing is evaluating overtures from the U.S. regarding President Donald Trump's tariffs. Futures and oil prices advanced. Hong Kong's Hang Seng surged 1.8% to 22,518.32 while markets in Shanghai were closed for a public holiday. Taiwan's benchmark jumped 2.7%. An unnamed Chinese Commerce Ministry spokesperson was cited as saying that Beijing had taken note of various statements by senior U.S. officials indicating a willingness to negotiate over tariffs. 'At the same time, the U.S. has recently taken the initiative to convey information to the Chinese side on a number of occasions through relevant parties, hoping to talk with the Chinese side. In this regard, the Chinese side is making an assessment,' it said. Tokyo's Nikkei 225 picked up 1% to 36,830.69, while South Korea's Kospi rose 0.1% to 2,558.84. Australia's S&P/ASX 200 added 1.1%, closing at 8,238.00. Microsoft and Meta Platforms led Wall Street higher Thursday after the Big Tech companies reported profits for the start of the year that were even bigger than analysts expected. The S&P 500 rose 0.6% for an eighth straight gain to 5,604.14, its longest winning streak since August. The Dow Jones Industrial Average added 0.2% to 40,752.96, and the Nasdaq composite climbed 1.5% to 17,710.74. Microsoft rallied 7.6% after the software giant said strength in its cloud computing and artificial intelligence businesses drove its overall revenue up 13% from a year earlier. Meta, the parent company of Facebook and Instagram, also topped analysts' targets for revenue and profit in the latest quarter. It said AI tools helped boost its advertising revenue, and its stock climbed 4.2%. CVS Health, Carrier Global and a bevy of other companies also joined the stream of better-than-expected profit reports that have helped steady Wall Street over the last week. The S&P 500 is back to within 8.8% of its record set earlier this year, after briefly dropping nearly 20% below the mark. Still, plenty of uncertainty remains about whether President Donald Trump's trade war will force the economy into a recession. General Motors slipped 0.4% after it cut its forecast for profit in 2025, for example. It said it's assuming it will feel a hit of $4 billion to $5 billion because of tariffs, and it expects to offset at least 30% of it. McDonald's fell 1.9% after reporting weaker revenue for the latest quarter than analysts expected, even though its profit was slightly above forecasts. McDonald's joined Chipotle and other restaurant chains that have seen customers grow cautious about the economy and inflation. Consumer surveys show pessimism is shooting higher about where the economy heading. On Thursday, a couple reports about the economy came in mixed, following up on several recent updates that suggested it's weakening. The first of the reports said more U.S. workers filed for unemployment benefits last week than economists had forecast, setting the stage for a more comprehensive report on the job market arriving Friday. The fear on Wall Street is for a possible worst-case scenario called 'stagflation,' where the economy stagnates yet inflation remains high. The Federal Reserve has no good tools to fix both such problems at the same time. If the Fed were to try to help one problem by adjusting interest rates, it would likely make the other worse. Treasury yields swiveled following Thursday's economic reports. The yield on the 10-year Treasury initially fell below 4.13% after the worse-than-expected update on joblessness. But it later trimmed its losses and rallied to 4.21%. That's up from 4.17% late Wednesday. Hopes that Trump may eventually roll back some of his tariffs after reaching trade deals with other countries also helped to support markets. In other dealings early Friday, U.S. benchmark crude oil gained 41 cents to $59.65 per barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, added 36 cents to $62.49 per barrel. The U.S. dollar slid to 145.23 Japanese yen from 145.40 yen. The euro edged higher, to $1.1319 from $1.1292
