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  • Aug 29, 2024

Oil Holds Losses as Slipping Equities Vie With Stockpiles, Libya

(Bloomberg) -- Oil steadied after a two-day drop, with stock market losses offsetting a drawdown in US stockpiles and supply disruptions in Libya.Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsIntergenerational Housing Could Help Older Adults Combat LonelinessAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowA Loud Warning From the Past About Living With CarsChicago Overcomes DNC Skeptics With Calm, Parties and SunBrent traded below $79 a barrel after los

  • Aug 29, 2024

Oil edges up as Libyan supply woes offset lower-than-expected U.S. stock draw

(Reuters) -Oil prices edged up on Thursday after two sessions of losses, as supply concerns over Libya returned to focus, while a smaller-than-expected draw in U.S. crude inventories sapped demand expectations. Brent crude futures climbed 15 cents, or 0.19%, $78.80 a barrel by 0605 GMT, while U.S. West Texas Intermediate crude futures were up 27 cents, or 0.36%, at $74.79. Worries over disruptions in supplies from Libya, a member of the Organization of the Petroleum Exporting Countries (OPEC), were positive for the market, some analysts said.

  • Aug 29, 2024

Analysis-Bond markets face a reckoning after stellar summer run

Government bond markets, which have enjoyed a summer of solid price gains, now face a reckoning with their bets for speedy central bank rate cuts and slowing inflation, not to mention a tight U.S. presidential election. Benchmark 10-year U.S. Treasury yields are set to end August down nearly 30 bps, their biggest monthly drop this year, driven by expectations for speedier rate cuts - even as economic data has eased the recessionary fears sparked by the last U.S. jobs report. Government bonds returned just 4% globally last year after 15% losses across 2021-22, and have returned 1.3% year-to-date.

  • Aug 29, 2024

Asian shares track Wall Street futures lower as Nvidia disappoints

SYDNEY (Reuters) -Asian shares followed Wall Street futures lower on Thursday as Nvidia's results disappointed some bullish investors, while the dollar steadied and the Treasury yield curve came within a whisker of turning positive. Europe is set for a mixed open, with EUROSTOXX 50 futures off 0.2% and FTSE futures up 0.2%, ahead of the inflation data from Germany and Spain where any downside misses could add to the case of more policy easing in Europe. U.S. weekly jobless claims, which have gained prominence given the Federal Reserve's focus on the health of the labour market, are also due later in the day.

  • Aug 29, 2024

Kiwi rises, dollar struggles to stay afloat ahead of US inflation test

SINGAPORE (Reuters) -The New Zealand dollar made solid gains on Thursday in the wake of an upbeat business outlook survey, while the U.S. dollar failed to sustain its bounce in the run up to a key U.S. inflation reading at the end of the week. Friday's release of the core personal consumption expenditures (PCE) price index - the Federal Reserve's preferred measure of inflation - headlines a week that's otherwise been lacking on major market moving data, leaving currencies mostly rangebound. Still, the kiwi was a notable outperformer in the Asian session, scaling an eight-month top $0.6295 after a survey out on Thursday showed New Zealand's business confidence jumped in August to the highest level in a decade.

  • Aug 29, 2024

US Stock Futures Drop as Nvidia Forecast Clouds AI Rally Outlook

(Bloomberg) -- US stock futures slipped after Nvidia Corp. gave a revenue forecast that fell short of the highest analyst estimates, possibly adding weight to concerns over the sustainability of the artificial intelligence boom.Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsIntergenerational Housing Could Help Older Adults Combat LonelinessAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowA Loud Warning From the Past About Living With CarsChicago Overcome

  • Aug 29, 2024

Morning Bid: Nvidia watch party over, back to inflation vigil

It is a sea of red in Asia as AI darling Nvidia failed to meet expectations of investors who were not satisfied with its profits, revenue and outlook simply beating the Street. Nvidia shares have rallied more than 150% this year thanks to insatiable demand for generative artificial intelligence (AI), so the 7% drop in its shares after-hours could turn out to be just another dip to buy into the world's second-most valuable company. Taiwan-listed shares of chipmaker TSMC slid 2%, Nasdaq futures dropped 0.7%, and Europe is set for a lower open, with EUROSTOXX 50 futures off 0.2%.

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