Latest news with #RockySwift
Reuters
3 days ago
- Business
- Reuters
Morning Bid: Stock markets celebrate mild inflation data
TOKYO, Aug 13 (Reuters) - A look at the day ahead in European and global markets from Rocky Swift Record highs are popping up on stock markets all over the world, from Wall Street to Japan and Vietnam, and equity indexes across Asia are a sea of green. Data in the United States and other major markets are falling into a Goldilocks zone of not-too-hot inflation that allows central banks to keep the easy money flowing. The MSCI All Country World Index (.MIWD00000PUS), opens new tab of shares reached a new all-time high, as did Japan's Nikkei (.N225), opens new tab gauge, which smashed through the 43,000 level for the first time. Bitcoin's cryptocurrency rival ether jumped to a near four-year high. Traders are pricing in a 94% chance the Federal Reserve will cut its key interest rate in September, up from nearly 86% a day ago and about 57% a month earlier, according to the CME FedWatch tool. The central bank in Australia cut rates yesterday and New Zealand's is expected to follow suit next week. The Bank of Japan's long-anticipated rate hike keeps getting kicked down the road. A Reuters poll that tracks the BOJ's quarterly tankan business survey showed Japanese manufacturers' sentiment index improved for a second-straight month, while another report showed the nation's wholesale inflation slowed in July. Left in the cold is the dollar, still the biggest loser since U.S. President Donald Trump began his on-again, off-again tariff saga in April. A new problem for the greenback is concern that partisanship will creep into U.S. monetary policy and the sanctity of economic data. Trump has nominated White House adviser Stephen Miran to temporarily fill a vacant board seat at the Fed. And the White House said it was "the plan" that the Bureau of Labor Statistics would continue to publish its closely watched monthly employment report after Trump's pick to head the agency, E.J. Antoni, previously proposed suspending its release. It's a light calendar for data and earnings in Europe and the U.S., and equity futures are pointing another day of gains in both markets. Meanwhile, small bands of Russian soldiers thrust deeper into eastern Ukraine, with Trump planning to meet Russian President Vladimir Putin in Alaska on Friday in search of an end to the war. European leaders fear the summit could result in peace terms imposed on an unlawfully shrunken Ukraine. Key developments that could influence markets on Wednesday: - Germany final consumer price index (CPI) data for July - United Kingdom RICS Housing Survey for July
Mint
4 days ago
- Business
- Mint
Japans Nikkei rallies to record high, SoftBank surges
By Junko Fujita and Rocky Swift TOKYO, - Japan's Nikkei share gauge powered to an all-time high on Tuesday, swept up by sharp gains for tech stocks, as it caught up with peaks scaled earlier this year by other major global stock markets. The Nikkei 225 rose as much as 2.1% to 42,715.72 in early trade, exceeding the previous high of 42,426.77 set on July 11, 2024. In a roller-coaster ride in 2024, the Nikkei had exceeded a record that had stood since 1989 during Japan's bubble economy. Japan's broader Topix gauge has been setting successive record highs since July 24 and also scored a new all-time high on Tuesday. The U.S. Standard & Poor's 500 and MSCI's broadest gauge of global equities have been charting new peaks since June. Steep gains by tech shares helped the Nikkei finally get over the line. SoftBank Group soared 6.7% after Reuters reported the conglomerate was selecting banks for a U.S. listing of its payments app operator PayPay. Semiconductor industry heavyweights Advantest and Lasertec jumped more than 5%. "The Nikkei was not able to hit a record until today because chip-related shares and auto shares dragged the index," said Takamasa Ikeda, senior portfolio manager at GCI Asset Management. "The Nikkei could soon peak as technology shares that led the Wall Street's rally have slowed down." Global equities tumbled after U.S. President Donald Trump's April 2 "Liberation Day" announcement of sweeping tariffs on imports from dozens of countries into the U.S. Shares have since more than recouped those losses as trade concerns abated and enthusiasm over artificial intelligence companies soared. Foreign money has been flooding into the Japanese market of late, but data from the Tokyo Stock Exchange last week indicated those flows may have peaked. Overseas investors turned net sellers of Japanese stocks and futures for the first time in 16 weeks in the period ending Aug. 1. They sold a net 342 billion yen of shares and futures, a sharp reversal from net purchases of 1.26 trillion yen in the previous week. This article was generated from an automated news agency feed without modifications to text.
Mint
04-07-2025
- Business
- Mint
Dollar slips versus major currencies as US tariff deadline looms
By Rocky Swift and Johann M Cherian TOKYO -The dollar slipped against other major currencies on Friday after President Donald Trump got his signature tax cut bill over the final hurdle and pressure mounted on countries to secure trade deals with the United States. The U.S. currency had rallied on Thursday after stronger than expected U.S. jobs data pushed out the timing for potential rate cuts by the Federal Reserve. But the dollar index, which tracks the currency against major peers, is headed for a second-straight weekly decline. The Republican-controlled House of Representatives narrowly passed Trump's "One, Big, Beautiful Bill" of spending and tax cuts that is estimated to add $3.4 trillion to the country's $36.2 trillion debt. Trump is expected to sign the bill into law on Friday. With the U.S. closed for Independence Day, attention turns to Trump's July 9 deadline when sweeping tariffs take effect on countries like Japan that have not yet secured trade agreements. "The appetite for the dollar is waning because, one, the U.S. debt worries are rising and appetite for U.S. debt is at risk," said Ipek Ozkardeskaya, senior market analyst at Swissquote Bank. "And also because of the fact that the tariff situation and trade disruptions are going to have a negative impact on growth for the U.S. and the Fed will not necessarily be able to support the economy when inflation risks are rising." The dollar index had its worst first half since 1973 as Trump's chaotic roll-out of sweeping tariffs heightened concerns about the U.S. economy and the safety of Treasuries. The U.S. currency has fallen more than 6% since April 2, which was when the U.S. announced tariffs on the world, and had hit the lowest in more than three years against the euro and British pound earlier in the week. The dollar index edged 0.1% lower to 96.92, trimming its 0.4% advance on Thursday. The euro added 0.2% to $1.178 , poised for a 0.5% weekly gain. The yen climbed 0.4% to 144.32 versus the dollar, while the Swiss franc firmed 0.2% to fetch 0.793 per dollar. Trump said many countries will get letters on Friday specifying what tariff rates they will face, marking a shift from earlier pledges to do individual deals with trading partners. European Commission President Ursula von der Leyen said the EU was aiming for a trade agreement "in principle" with the U.S. before the deadline. Japan, which has been a focus of Trump's ire of late, is reportedly sending its chief trade negotiator to the U.S. again as early as this weekend. Indonesia offered to cut duties on key imports from the United States to "near zero" and to buy $500 million worth of U.S. wheat. Elsewhere, China said it would implement duties of up to 34.9% on brandy originating in the European Union for a period of five years starting from July 5. In some relief for investors worried about the health of the U.S. economy, the employment report on Thursday showed that non-farm payrolls increased by 147,000 jobs in June, well ahead of economists' forecast in a Reuters poll for a rise of 110,000. "The U.S. labour market is gradually slowing down, but the fact that it hasn't experienced a sudden change is reassuring," said SMBC chief currency strategist Hirofumi Suzuki. "I personally predict that the tariff negotiations will not be very favourable, leading to continued dollar weakness and yen strength." Market expectations that the Fed will leave rates unchanged at its July meeting are now at 95.3% probability, up from 76.2% on July 2, according to the CME's Fedwatch tool. Economists continue to expect the Fed will not start cutting rates again until September or even later. This article was generated from an automated news agency feed without modifications to text.
Yahoo
13-06-2025
- Business
- Yahoo
Friday 13th brings explosions in Tehran, race to safe havens
(Corrects hyperlink to oil price story in paragraph 5) A look at the day ahead in European and global markets from Rocky Swift It had to be Friday the 13th, right? The morning began with explosions in Tehran that appeared to be much more serious than tit-for-tat strikes between Israel and Iran last year. Though a preemptive strike by Israel on Iran's budding nuclear capability had been suspected, the timing and severity still took markets by surprise, with oil prices jumping over 11% at one point. What remains unclear is what role or knowledge the United States had about the offensive and what will Washington do if Iran retaliates. Secretary of State Marco Rubio said the U.S. was not involved, while Israel's state broadcaster said Washington had been notified before the strikes. Steve Witkoff, President Donald Trump's special envoy to the Middle East, had been expected to meet Iran's foreign minister in Oman on Sunday. Oil's jump put it on course for the sharpest daily gain in more than five years. Gold and Treasuries surged in Asian trading, while stock futures pointed to roughly 1.5% declines in Europe and U.S. Britain's FTSE was down less than 0.5% in the futures market. With rubber bullets flying in Los Angeles and missiles dropping in Tehran, global economies are clearly prioritising guns over butter. Major defence contractors in Europe such as Britain's BAE Systems, France's Dassault Aviation, and Sweden's Saab AB may be active today. Key developments that could influence markets on Friday: - German, French final CPI readings for May - Euro zone trade balance, industrial production data for April Trying to keep up with the latest tariff news? Our new daily news digest offers a rundown of the top market-moving headlines impacting global trade. Sign up for Tariff Watch here.
Hindustan Times
13-06-2025
- Business
- Hindustan Times
MORNING BID EUROPE-Friday 13th brings explosions in Tehran, race to safe havens
A look at the day ahead in European and global markets from Rocky Swift It had to be Friday the 13th, right? The morning began with explosions in Tehran that appeared to be much more serious than tit-for-tat strikes between Israel and Iran last year. Though a preemptive strike by Israel on Iran's budding nuclear capability had been suspected, the timing and severity still took markets by surprise, with oil prices jumping over 11% at one point. What remains unclear is what role or knowledge the United States had about the offensive and what will Washington do if Iran retaliates. Secretary of State Marco Rubio said the U.S. was not involved, while Israel's state broadcaster said Washington had been notified before the strikes. Steve Witkoff, President Donald Trump's special envoy to the Middle East, had been expected to meet Iran's foreign minister in Oman on Sunday. Oil's jump put it on course for the sharpest daily gain in more than five years. Gold and Treasuries surged in Asian trading, while stock futures pointed to roughly 1.5% declines in Europe and U.S. Britain's FTSE was down less than 0.5% in the futures market. With rubber bullets flying in Los Angeles and missiles dropping in Tehran, global economies are clearly prioritising guns over butter. Major defence contractors in Europe such as Britain's BAE Systems, France's Dassault Aviation, and Sweden's Saab AB may be active today. Key developments that could influence markets on Friday: - German, French final CPI readings for May - Euro zone trade balance, industrial production data for April Trying to keep up with the latest tariff news? Our new daily news digest offers a rundown of the top market-moving headlines impacting global trade. Sign up for Tariff Watch here.
