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CNA
3 days ago
- Business
- CNA
Global stocks near record highs as markets await Trump-Putin talks
LONDON :Global stocks traded near record highs on Friday as investors awaited key talks between Donald Trump and Vladimir Putin over Ukraine in Alaska and for U.S. retail data that may give clues on the health of the world's biggest economy. The MSCI All Country World Index consolidated recent gains as European stocks edged higher in early trading. The index was last up 0.2 per cent at 953.4, just shy of the record level of 954.21 set on Wednesday. Wall Street futures were also up slightly around 0.1-0.2 per cent. The White House has said the Trump-Putin meeting will take place at 11 a.m. Alaska time (1900 GMT), with the U.S. president's hopes of a ceasefire agreement on Ukraine uncertain. Trump has said a second summit involving Ukrainian President Volodymyr Zelenskiy could follow if the talks go well. "There's still a small degree of risk premium in European markets because of the war. Any type of resolution will ultimately pare that back," said Shaniel Ramjee, co-head of multi-asset at Pictet Asset Management, adding that oil and other commodity prices could also react. "But I think that the market has learnt not to expect too much from these negotiations. Ultimately, Zelenskiy and the Europeans are not invited. They will need to be involved in any final negotiation." Investors are also training their sights on U.S. retail data due later, after an unexpected spike in producer price data on Thursday renewed inflation concerns and pared market expectations for Federal Reserve rate cuts this year. "What it did was to get rid of all the chat about a 50 basis point cut (in September)," said Mike Houlahan, director at Electus Financial Ltd in Auckland. The 10-year U.S. Treasury yield was flat at 4.287 per cent, after the previous day's 5 basis point rise in the aftermath of the PPI data. [US/] The dollar index, which tracks the greenback against a basket of six major currencies, was last trading down 0.2 per cent at 97.965. Japanese GDP data released on Friday showed the economy expanding by an annualised 1.0 per cent in the April-June quarter, beating analyst estimates. The dollar weakened 0.4 per cent against the yen to 147.16. In commodities markets, Brent crude was down 0.7 per cent at $63.52 per barrel. Gold edged up 0.2 per cent to $3,342 per ounce.
Reuters
3 days ago
- Business
- Reuters
Global stocks near record highs as markets await Trump-Putin talks
LONDON, Aug 15 (Reuters) - Global stocks traded near record highs on Friday as investors awaited key talks between Donald Trump and Vladimir Putin over Ukraine in Alaska and for U.S. retail data that may give clues on the health of the world's biggest economy. The MSCI All Country World Index (.MIWD00000PUS), opens new tab consolidated recent gains as European stocks edged higher in early trading (.STOXX), opens new tab. The index was last up 0.2% at 953.4, just shy of the record level of 954.21 set on Wednesday. Wall Street futures were also up slightly around 0.1-0.2%. , The White House has said the Trump-Putin meeting will take place at 11 a.m. Alaska time (1900 GMT), with the U.S. president's hopes of a ceasefire agreement on Ukraine uncertain. Trump has said a second summit involving Ukrainian President Volodymyr Zelenskiy could follow if the talks go well. "There's still a small degree of risk premium in European markets because of the war. Any type of resolution will ultimately pare that back," said Shaniel Ramjee, co-head of multi-asset at Pictet Asset Management, adding that oil and other commodity prices could also react. "But I think that the market has learnt not to expect too much from these negotiations. Ultimately, Zelenskiy and the Europeans are not invited. They will need to be involved in any final negotiation." Investors are also training their sights on U.S. retail data due later, after an unexpected spike in producer price data on Thursday renewed inflation concerns and pared market expectations for Federal Reserve rate cuts this year. "What it did was to get rid of all the chat about a 50 basis point cut (in September)," said Mike Houlahan, director at Electus Financial Ltd in Auckland. The 10-year U.S. Treasury yield was flat at 4.287%, after the previous day's 5 basis point rise in the aftermath of the PPI data. The dollar index , which tracks the greenback against a basket of six major currencies, was last trading down 0.2% at 97.965. Japanese GDP data released on Friday showed the economy expanding by an annualised 1.0% in the April-June quarter, beating analyst estimates. The dollar weakened 0.4% against the yen to 147.16 . In commodities markets, Brent crude was down 0.7% at $63.52 per barrel. Gold edged up 0.2% to $3,342 per ounce. Cryptocurrency markets stabilised after bitcoin touched a record $124,480.82 on Thursday. The digital currency was last up 0.9%.
Yahoo
3 days ago
- Business
- Yahoo
Data Points to Solid U.S. Retail Spending. But There Are Plenty of Troubling Signs.
Key Takeaways July reversed a decline in month-to-month retail spending, with sales rising 1.5%, according to the National Retail Federation. The trade group and analysts from Bank of America said the number may be benefitting from temporary factors, such as back-to-school spending and Prime Day. Investors will get fresh insight on Friday, when the federal government is slated to release its retail data. Retail spending was solid in July, according to new data. But will it be enough to quell concerns about tariffs and inflation? Retail sales, exclusive of car and gas spending, rose 1.5% from June to July, reversing a 0.3% decrease from May to June, the National Retail Federation said this week ahead of government retail data due Friday. Retail spending is a closely watched measure of consumer financial health; economists expect Friday's report to show July sales up 0.5% from June, according to a Wall Street Journal survey. Sales for the month rose 5.9% year-over-year, but the trade group said it was difficult to determine what drove up spending. Retail sales were relatively weak in June, NRF said, while back-to-school spending and a longer Prime Day may have inflated July's numbers, Bank of America said. Executives at a range of companies have hinted at cautious consumers during the second-quarter earnings season. Wall Street analysts have suggested that shoppers have continued to spend, but sought opportunities to trade down to cheaper versions of desired items. 'It is possible some of the increase in spending was due to retailers passing through current or prospective tariff increases onto customers,' Bank of America wrote in an analysis of credit and debit card spending in July that pointed toward a smaller increase in the number of card transactions per household than in dollars spent. Annual inflation in July was on par with the 2.7% rate reported in June, coming in just below what economists expected. Economists generally believe tariffs will lead to price increases, and potentially, spikes in inflation, though some think that companies have yet to pass along as much of the effect of tariffs to consumers as they may in the second half of the year. Cautious consumer spending has come up on a number of retailers' recent conference calls, including the outdoor gear company Yeti Holdings (YETI), the athletic apparel brand Under Armour (UA) and burger chains Jack in the Box (JACK) and McDonald's (MCD). Lower-priced store-brand products have seen more take-up lately, some grocers and food companies have said. "Guests continue to manage their check by ordering fewer beverages and appetizers as well as trading down to lower-priced items on our menus," John Peyton, CEO of the parent company of Applebee's and IHOP, Dine Brands Global (DIN), said on a recent conference call. The economic climate is hitting low-income consumers, who appear to be getting fewer hours of work while maintaining similar spending levels, harder, Bank of America said. 'The low-end consumer is a consumer that we believe is most sensitive to price increases, is most nervous, and, in some cases, is not leaving the house,' Crocs (CROX) CEO Andrew Rees said on a conference call last week, according to a transcript from AlphaSense. Read the original article on Investopedia
Yahoo
18-07-2025
- Business
- Yahoo
Stocks head for positive end to week, Tokyo struggles ahead of vote
Markets headed into the weekend on a broadly positive note Friday, as investors took up New York's latest record highs sparked by healthy US retail data and upbeat earnings from some of Wall Street's big names. The readings helped divert attention away from Donald Trump's tariffs saga, with dozens of countries yet to cut deals with the US president two weeks before his August 1 deadline. However, Japanese investors were a little more anxious after news that rice prices once again doubled in June, compounding problems for Prime Minister Shigeru Ishiba ahead of weekend elections in which the grain has been a hot topic. The Nasdaq and S&P scaled fresh peaks Thursday after figures showed US retail sales rose more than expected last month and reversed May's decline, indicating the world's top economy remains in good health. Another modest jobless claims report provided extra assurance. That came on top of forecast-topping earnings from streaming behemoth Netflix, which further fanned buying in tech firms that followed Trump's decision to allow chip giant Nvidia to export its H20 semiconductors to China. Hong Kong stocks were among the biggest winners thanks to tech leaders, while there were also gains in Shanghai, Sydney, Singapore, Taipei, Manila, Bangkok and Jakarta. London, Paris and Frankfurt extended Thursday's gains, but Seoul, Mumbai and Wellington dropped. Tokyo was also in the red as nervous investors eyed Sunday's vote, with opinion polls suggesting Ishiba's ruling coalition could lose its majority in the upper house, having lost control of the lower house last year. A poor show for the premier -- who has been battered by a cost-of-living crisis -- could put pressure on him to step down and likely usher in a period of uncertainty in the world's number four economy. "Cost-of-living concerns have dominated the campaign for this weekend's upper house election," wrote Stefan Angrick, head of Japan and frontier markets economics at Moody's Analytics. "Ishiba's government has boxed itself in, promising only some belated and half-hearted financial support that will do little to improve the demand outlook." Adding to the premier's problems was news that rice prices had soared 99.2 percent in June year-on-year, having rocketed 101 percent in May and 98.4 percent in April. Public support for his administration has tumbled to its lowest level since he took office in October, with people also angry at his failure to reach a deal to avoid the worst of Trump's tariffs. "While Ishiba's base applauds his refusal to bow to Trump's every tweet, the unwillingness to give even an inch on low-hanging fruit like a partial tariff rollback or mild defense spending boost suggests a man more committed to defiance than diplomacy," said SPI Asset Management's Stephen Innes. "It's tempting to say the trade friction was out of Ishiba's control... But markets, like politics, don't reward stubborn idealism. They reward adaptability. And on that score, Ishiba has failed to hedge his leadership risks." - Key figures at around 0810 GMT - Tokyo - Nikkei 225: DOWN 0.2 percent at 39,819.11 (close) Hong Kong - Hang Seng Index: UP 1.3 percent at 24,825.66 (close) Shanghai - Composite: UP 0.5 percent at 3,534.48 (close) London - FTSE 100: UP 0.2 percent at 8,992.54 Euro/dollar: UP at $1.1637 from $1.1600 on Thursday Pound/dollar: UP at $1.3438 from $1.3415 Dollar/yen: UP at 148.65 yen from 148.60 yen Euro/pound: UP at 86.59 pence from 86.43 pence West Texas Intermediate: UP 0.5 percent at $67.86 per barrel Brent North Sea Crude: UP 0.4 percent at $69.79 per barrel New York - Dow: UP 0.5 percent at 44,484.49 (close) dan/rsc Sign in to access your portfolio
Yahoo
18-07-2025
- Business
- Yahoo
Asian markets on course to end week on a positive note
Asian markets headed into the weekend on a broadly positive note Friday, as investors took up New York's latest record highs sparked by healthy US retail data and upbeat earnings from some of Wall Street's big names. The readings helped divert attention away from Donald Trump's tariffs saga, with dozens of countries yet to cut deals with the US president two weeks before his August 1 deadline. However, Japanese investors were a little more anxious after news that rice prices once again doubled in June, compounding problems for Prime Minister Shigeru Ishiba ahead of weekend elections in which the grain has been a hot topic. The Nasdaq and S&P scaled fresh peaks Thursday after figures showed US retail sales rose more than expected last month and reversed May's decline, indicating the world's top economy remains in good health. Another modest jobless claims report provided extra assurance. That came on top of forecast-topping earnings from streaming behemoth Netflix, which further fanned buying in tech firms that followed Trump's decision to allow chip giant Nvidia to export its H20 semiconductors to China. Hong Kong stocks led most of Asia higher thanks to tech leaders, while there were also gains in Shanghai, Sydney, Singapore, Taipei, Manila and Jakarta. Seoul and Wellington dropped. Tokyo was also in the red as nervous investors eyed Sunday's vote, with opinion polls suggesting Ishiba's ruling coalition could lose its majority in the upper house, having lost control of the lower house last year. A poor show for the premier -- who has been battered by a cost of living crisis -- could put pressure on him to step down and likely usher in a period of uncertainty in the world's number four economy. "Cost-of-living concerns have dominated the campaign for this weekend's upper house election," wrote Stefan Angrick, head of Japan and frontier markets economics at Moody's Analytics. "Ishiba's government has boxed itself in, promising only some belated and half-hearted financial support that will do little to improve the demand outlook." Adding to the premier's problems was news that rice prices had soared 99.2 percent in June year-on-year, having rocketed 101 percent in May and 98.4 percent in April. Public support for his administration has tumbled to its lowest level since he took office in October, with people also angry at his failure to reach a deal to avoid the worst of Trump's tariffs. "While Ishiba's base applauds his refusal to bow to Trump's every tweet, the unwillingness to give even an inch on low-hanging fruit like a partial tariff rollback or mild defense spending boost suggests a man more committed to defiance than diplomacy," said SPI Asset Management's Stephen Innes. "It's tempting to say the trade friction was out of Ishiba's control... But markets, like politics, don't reward stubborn idealism. They reward adaptability. And on that score, Ishiba has failed to hedge his leadership risks." - Key figures at around 0230 GMT - Tokyo - Nikkei 225: DOWN 0.3 percent at 39,778.85 (break) Hong Kong - Hang Seng Index: UP 1.0 percent at 24,741.54 Shanghai - Composite: UP 0.4 percent at 3,530.73 Euro/dollar: UP at $1.1628 from $1.1600 on Thursday Pound/dollar: UP at $1.3435 from $1.3415 Dollar/yen: DOWN at 148.45 yen from 148.60 yen Euro/pound: UP at 86.54 pence from 86.43 pence West Texas Intermediate: FLAT at $67.55 per barrel Brent North Sea Crude: FLAT at $69.54 per barrel New York - Dow: UP 0.5 percent at 44,484.49 (close) London - FTSE 100: UP 0.5 percent at 8,972.64 (close) dan/rsc Sign in to access your portfolio
